New Zealand’s gross domestic product (GDP) was up 1.3% when compared to the prior year period but down 0.3% over the previous quarter, according to figures by Statistics New Zealand.

The 0.3% quarterly fall followed a revised 0.5% quarterly increase in the June 2023 quarter.

Despite the overall quarterly fall in GDP, eight of the 11 service industries grew this quarter. The strongest rises were seen in healthcare and social assistance; and rental, hiring, and real estate services.

“All goods producing industries were down this quarter, led by a fall in manufacturing,” national accounts industry and production senior manager Ruvani Ratnayake said. “The fall in manufacturing was driven by petroleum, chemical, plastic, and rubber manufacturing; and food and beverage manufacturing.”

“The transport, postal, and warehousing industry also fell, and this was primarily due to a decline in freight logistics, with fewer goods being exported in the quarter,” Ratnayake said.

Meanwhile, household spending was down 0.6% over the quarter. All categories fell, led by falls in spending on durable goods. This was driven by reduced spending on motor vehicles, following higher spending in the June 2023 quarter.