National Accounts - Quarterlies March 2026 Data Collection

Gross domestic product: March 2026 quarter - changes and data updates Introduction Gross domestic product (GDP) data sources and methods are well documented in the following information papers: Production and expenditure measures of GDP – Quarterly gross domestic product: Sources and methods (second edition), with a further update in Quarterly gross domestic product: Sources and methods (fifth edition). Income measure of GDP – National accounts (income, saving, assets, and liabilities): Sources and methods (fourth edition). Overview of sources and methods for quarterly gross domestic product: Updates and COVID-19 adjustments provides a summary of the sources and methods and also includes information about where we have used alternative indicators to better capture the impacts of COVID-19 on economic activity. The quarterly indicators used when compiling our estimates of GDP are the best that we have available at that time. We usually face trade-offs between timeliness and the quality of available data sources. Higher-quality data is incorporated into our estimates of GDP when it becomes available. Corrections to quarterly gross domestic product Correction to gross fixed capital formation We made a correction to an adjustment that we had in place for the March 2025 quarter for other construction gross fixed capital formation, resulting in a revision to that quarter. This also flows through to the construction industry as a revision for the same quarter. Changes due to updated indicator data Updates to private dwelling and household estimates data We have included updates to the private dwelling and household estimates data, which affected the rental, hiring, and real estate services industry in GDP, and household consumption expenditure in the expenditure measure of GDP. This caused updates from the March 2018 quarter onwards. Dwelling and household estimates: March 2026 quarter has more information. Incorporating updated business financial data (BFD) BFD data has updated, causing changes to the manufacturing industry in GDP from March 2023 onwards, and manufacturing inventories and gross fixed capital formation in the expenditure measure of GDP from the March 2025 quarter onwards. BFD updates have also led to changes to compensation of employees, and gross operating surplus and gross mixed income in the GDP income measure from the March 2023 quarter onwards. Business financial data: March 2026 quarter and Infoshare changes by date have more information. Incorporating updated value of building work put in place data Value of building work put in place (also known as the quarterly Building Activity Survey - QBAS) has updated data from the June 2025 quarter onwards. This has caused changes to construction industry activity in GDP, gross fixed capital formation in the expenditure measure of GDP, and to gross operating surplus and gross mixed income in the GDP income measure over the same period. These updates are the main reason for the upward revisions to the December 2025 quarter growth rates of GDP and expenditure on GDP. Value of building work put in place: March 2026 quarter has more information. Incorporating updated international trade data International trade data has been updated for the December 2025 quarter. These updates directly flow through to imports, exports, household consumption expenditure, and gross fixed capital formation. International trade: March 2026 quarter has more information about the changes. Incorporating updated agricultural production statistics We incorporated updated data from agricultural production statistics. The data replaced provisional estimates and modelled stock levels. Incorporating the data led to updates to agricultural activity in GDP, to agricultural inventories in the expenditure measure of GDP, and to gross operating surplus and gross mixed income in the GDP income measure. These changes caused updates from the March 2023 quarter onwards. Agricultural production statistics: Year to June 2025 has more information. Other changes due to updated respondent information and other source data We received updated respondent information and other source data, causing updates to: GDP – production measure: agriculture, forestry, and fishing – updated livestock slaughtering data, roundwood removal data, and linked employer-employee (LEED) data electricity, gas, water, and waste services – updated LEED data wholesale trade – updated fuel data transport, postal, and warehousing – updated diesel volumes data information, media, and telecommunications – updated Inland Revenue (IR) data finance and insurance – updated Reserve Bank of New Zealand (RBNZ) data and balance of payments data rental, hiring, and real estate services – updated property sales data unallocated taxes – flow-through from updates to rental, hiring, and real estate services; household consumption expenditure; and gross fixed capital formation. GDP – expenditure measure: household consumption expenditure – updated IR data private non-profits serving households – updated deflator data local government final consumption expenditure – updated respondent data from the quarterly Local Authority Survey (QLAS) inventories – updated livestock and Ministry for Primary Industries (MPI) data gross fixed capital formation – updated respondent data, property sales data, and overseas price index data. GDP – income measure: gross operating surplus and gross mixed income – flow-through from updates to final consumption expenditure, updates to inventories, and updated RBNZ data taxes on production and imports – flow-through from updates to gross fixed capital formation and household consumption expenditure. Other updates Updates to inventories We made updates during the process of reconciling change in inventories with other movements in production and expenditure series. This process is designed to minimise inconsistencies in timing and valuation. Data updates due to chain linking We use data for March years to calculate chain-volume measures. Previously published quarterly chain-volume measures have revised as we now have year ended March 2026 results. This affects multiple chain-linked components of both production and expenditure measures of GDP and is particularly noticeable within imports and exports. Updates in applying alternative indicators There have been minor updates to business services due to updates in the processing of BFD data to form our alternative indicator for travel agency and tour arrangement services. Data updates table The table below shows previously published and updated quarterly movements for GDP and expenditure on GDP (GDE) from the March 2021 to the December 2025 quarters. While there were some changes to earlier quarters, these were less significant. All movements shown are in constant prices. Quarter GDP updated 18 June 2026 GDP previously published GDE updated 18 June 2026 GDE previously published 2021.03 2.0 2.0 2.1 2.1 2021.06 0.8 0.8 0.8 0.8 2021.09 -4.3 -4.3 -4.4 -4.4 2021.12 4.1 4.1 4.1 4.1 2022.03 -0.1 -0.1 0.0 0.1 2022.06 1.0 1.0 1.3 1.3 2022.09 1.9 1.9 2.3 2.3 2022.12 0.2 0.2 0.3 0.3 2023.03 -0.1 0.0 -0.3 -0.2 2023.06 1.0 0.9 0.9 0.8 2023.09 0.1 0.1 0.0 -0.1 2023.12 0.5 0.5 0.4 0.4 2024.03 0.0 0.2 -0.2 0.1 2024.06 -0.5 -0.6 -0.1 -0.4 2024.09 -1.2 -1.2 -1.2 -1.2 2024.12 0.1 0.0 0.2 0.1 2025.03 0.9 1.1 0.7 1.1 2025.06 -0.7 -0.9 -0.3 -0.7 2025.09 0.9 0.9 1.1 0.9 2025.12 0.5 0.2 0.4 0.1 en-NZ