Ouch

Stats NZ reports:

New Zealand’s gross domestic product (GDP) fell 0.9 percent in the June 2025 quarter, following a 0.9 percent increase in the March 2025 quarter, according to figures released by Stats NZ today.

Activity decreased in the June 2025 quarter across 2 out of 3 high-level industry groups: goods-producing industries fell 2.3 percent, and primary industries fell 0.7 percent. Service industries were flat.

That is a big fall. It is almost certain primary industries will do well in the current quarter, but will that be enough to counter the goods and service industries?