National Accounts: March 2026 Quarter

This is our experimental section. The data presented here is provisional and may be subject to more updates than other releases.

We have developed experimental quarterly estimates for institutional sector accounts and balance sheets, to provide more timely data on New Zealand’s economy. We have published these experimental estimates on a quarterly basis since the first release for the March 2021 quarter.

The quarterly income measure of gross domestic product (GDPI), along with total economy compensation of employees, gross operating surplus and gross mixed income, taxes on production and imports, and subsidies, became official in the December 2023 quarter and were most recently published in Gross domestic product: March 2026 quarter on 18 June 2026.

These previously published measures are also included in table 1.1 (consolidated accounts of the nation, gross domestic product, and expenditure account) of the consolidated accounts tables in this release, in actual and seasonally adjusted terms. All other series in the consolidated accounts tables of this release remain as previously published.

Key facts

Quarterly income and outlay accounts

In the March 2026 quarter, compared with the December 2025 quarter (in seasonally adjusted terms):

household saving increased $610 million to $2.2 billion
household net disposable income rose 2.1 percent ($1.4 billion):
- compensation of employees rose 1.2 percent ($595 million)
- income tax paid by households fell 2.3 percent ($370 million)
- income of self-employed businesses (entrepreneurial income) received by households rose 2.8 percent ($337 million)
- social assistance benefits in cash rose 1.2 percent ($146 million)
- interest received by households fell 6.8 percent ($197 million)
household final consumption expenditure rose 1.2 percent ($742 million)
non-financial business enterprises saving fell $275 million to $6.0 billion
central government saving fell $717 million to -$2.4 billion
interest received by financial business enterprises fell 1.3 percent ($124 million)
interest paid by financial business enterprises fell 3.2 percent ($323 million).

Quarterly balance sheets

Quarterly balance sheet values are not seasonally adjusted.

In the March 2026 quarter, compared with the December 2025 quarter:

household net worth was little changed (up 0.1 percent):
- equity and investment share assets rose $16.4 billion (1.4 percent)
- buildings rose $4.1 billion
- currency and deposits rose $1.2 billion
- loan liabilities rose $4.1 billion
- insurance and pension assets fell $5.6 billion
- land fell $9.9 billion (1.4 percent)
non-financial business enterprises net worth rose $5.9 billion:
- financial assets rose $8.1 billion
- non-financial assets (land and buildings) rose $3.0 billion
- financial liabilities (including equity liabilities) rose $5.2 billion (0.2 percent)
central government net worth fell $8.2 billion (2.9 percent):
- financial liabilities rose $9.0 billion
- financial assets fell $1.5 billion
- non-financial assets (land and buildings) rose $2.3 billion.