Source: Whitireia and WelTec
Economy – Recovery delayed, but not derailed – says Kiwibank Economists
In December, Kiwibank economists forecast a robust recovery for New Zealand in 2026. Since then, heightened global tension and the resulting oil price shock have seen the outlook revised, with a slower return to growth now expected.
Kiwibank Chief Economist Jarrod Kerr says that while early recovery momentum has softened, the economy is showing signs of resilience.
“We expected clearer skies this year, but instead we’ve had to navigate a storm. The important thing is we’re still moving forward. The recovery hasn’t disappeared, it’s just slower than we’d hoped.”
Global headwinds slow recovery
The outlook shows the economy entered 2026 with improved momentum, including early signs of stabilising demand and easing pressure on household and business budgets.
That progress was disrupted as conflict in the Middle East drove a surge in oil prices, lifting costs and weakening demand as Kiwi pulled back on non-essential spending.
At the same time, a soft labour market and subdued wage growth continue to weigh on activity.
“Kiwi households and businesses are feeling the squeeze. There’s been some relief in places, but for many, higher costs are still front and centre. That’s holding back a stronger rebound in spending as New Zealanders continue to balance their books.”
Encouragingly, data for the March quarter highlights areas of resilience across the economy.
Nine of the 16 industry groups recorded growth. Manufacturing rose 1.9%, driven by transport equipment and machinery production. Wholesale trade lifted 2.4%, supported by machinery and equipment, while business services increased 1.1%. Business investment also rose 3.7%.
“That’s encouraging, because for the first time in a long while, the construction drag is being offset elsewhere.”
Inflation outlook remains uncertain
Inflation is expected to remain volatile in the near term, reflecting global cost pressures, before gradually easing as weak demand and subdued wage growth take effect.
“There may be short-term spikes, but the underlying trend is weaker demand and wage growth doing a lot of the work to bring inflation down.”
Kiwibank economists expect headline inflation to rise to around 4.2% in this quarter, with tradable inflation, particularly oil-related, pushing up to around 5.6%. Domestic inflation is expected to lift more modestly to around 3.3%, before easing over time.
With the outlook evolving quickly, Kerr says monetary policy will play a key role in shaping the recovery.
“We still believe this is a shock that needs to be looked through, with a focus on maintaining conditions that support the recovery and rebuild demand.”
Two scenarios – and a more positive path still in sight
Kiwibank economists outline two possible paths for the New Zealand economy.
The upside scenario assumes a “bounce back” in the domestic economy, supported by easing costs, improving confidence, and a lift in household spending and business investment.
The downside scenario reflects prolonged global disruption, weaker domestic demand, and a more challenging recovery path.
“There are still risks out there, but the positive outcome remains achievable.”
Kerr expects conditions to gain traction through 2027, with inflation easing to around 1.9% as disinflationary forces take hold: “It’s taken longer than we expected, and that’s frustrating. But we’ve weathered though periods before. There are blue skies ahead – it just might take a little longer to get there.”
About Kiwibank
Kiwibank is a purpose-led organisation that has Kiwi values at heart and keeps Kiwi money where it belongs – right here in New Zealand. As a Kiwi bank, with more than a million customers, our trusted experts are focused on supporting Kiwi with their home ownership aspirations and backing local business ambitions, so together we can thrive here in Aotearoa and on the world stage. Kiwibank is among the top banks in Kantar’s 2026 Corporate Reputation Index and is one of the top 15 most trusted brands. To find out more about Kiwibank visit www.kiwibank.co.nz.
Venezuela Earthquakes: "Fear, stress, and overwhelming sadness are everywhere" as children pulled from rubble with tens of thousands still missing
Source: Save the Children
Politics – Federated Farmers backs National’s plan to slash solar red tape
Source: Federated Farmers
Politics – Federated Farmers backs commonsense conservation reform
Environment – Rotorua company fined for illegally releasing synthetic greenhouse gases
Source: Environmental Protection Authority
Gumboot Friday records busiest month of 2026 so far, supporting 2,213 young Kiwis in May
In May 2026, 2,213 young people aged 5-25 accessed free counselling through Gumboot Friday – the highest monthly total recorded so far this year – with 3,578 sessions delivered nationwide.
Sessions are free, no referral is required, and young people choose the counsellor they want to talk to from Gumboot Friday’s registered network of counsellors.
Breakdown by age group:
• 640 young people aged 5–11 (28.9%)
• 608 young people aged 12–17 (27.5%)
• 965 young people aged 18–25 (43.6%)
May’s figures show demand at its highest point this year, but they also show the system working: young people reaching out, appointments being made, and support getting to them.
“May was our busiest month of the year so far, and that tells us two things. The need is real, and the door has to stay open. When 2,213 young people come through in one month, you don’t get to look away or slow down. You make sure the help is there,” says I Am Hope founder Mike King.
“What matters to me is that these kids didn’t have to wait until everything fell apart before they could talk to someone. They didn’t need a referral, they didn’t need money, and they didn’t need to prove they were struggling enough. They put their hand up, chose a counsellor, and got started. That’s what meeting demand looks like — removing the excuses and getting help in front of them,” King says.
Government support helps pay for the counselling sessions, while community backing helps keep the rest of the work going — the platform, the counsellor network, the team behind it, and I Am Hope’s early-intervention work in schools and communities.
With May now the busiest month of the year so far, that support matters more than ever. Every donation, fundraiser, shared post and gumboot sold helps keep young people connected to free counselling when they need it.
If you or someone you know is 25 or under and needs someone to talk to, visit www.gumbootfriday.org.nz to book a free counsellor today – no referral needed.
To donate, fundraise, or get involved with I Am Hope, head to www.iamhope.org.nz or text HOPE to 469 for a $3 donation.
Media Sector – Gambling in New Zealand needs responsible advertising – Global TV Experts
Auckland, 29 June, 2026 – Global TV Experts, a specialist iGaming television advertising agency, has launched GTE Pacific after securing access to nationwide television advertising inventory for licensed online gambling operators entering New Zealand's newly regulated market.
The launch comes as New Zealand prepares to award up to 15 online casino licences, creating one of the most significant market entry opportunities in global iGaming.
With licensed operators expected to begin launching later this year, competition to establish brand awareness and acquire customers is already intensifying. Unlike more mature regulated markets, New Zealand offers a rare opportunity for operators to enter a market without entrenched online casino brands or established player loyalties.
To support operators preparing for launch, GTE Pacific has secured advertising inventory across New Zealand's leading broadcast television networks, providing licensed operators with access to premium national advertising opportunities unavailable through any other media buying agency.
The company believes television will play a pivotal role in helping operators build trust, awareness and market share as consumers are introduced to licensed online gambling brands for the first time.
Ben Wilcockson, founder of Global TV Experts, said: “The winners in New Zealand will be decided long before the first bet is placed. This is a rare opportunity to launch into a regulated market with no established online casino leaders and no entrenched player habits. The operators that build awareness first will have a genuine opportunity to shape the market.
“With only a limited number of licences available and a finite amount of premium television inventory, the race to secure visibility has already started. That's why we've launched GTE Pacific and secured nationwide inventory to help operators maximise their opportunity from day one.”
GTE Pacific is backed by the wider Global TV Experts network, which has more than 15 years of experience supporting regulated gambling operators across over 50 international markets, including supporting partners entering newly regulated markets such as Ontario, Canada.
The agency specialises in helping operators navigate complex advertising regulations while delivering large-scale television campaigns designed to accelerate customer acquisition and brand growth.
The launch reflects growing industry interest in New Zealand's regulatory reforms and the commercial opportunities expected to emerge once licences are awarded.
GTE Pacific is encouraging prospective applicants to begin planning their launch strategies well ahead of market opening.
Licensed operators interested in securing television advertising inventory ahead of launch can register their interest by visiting: www.gtepacific.co.nz.
About Global TV Experts
Global TV Experts (GTE) is a specialist television advertising agency helping regulated gaming, betting and entertainment brands achieve large-scale growth through broadcast media.
Founded by media buying expert Ben Wilcockson, GTE combines more than 15 years of experience in television advertising with a deep understanding of regulated gambling markets. The company works with operators, affiliates and industry stakeholders across more than 50 jurisdictions, delivering compliant, performance-driven TV campaigns that build brand awareness, customer acquisition and long-term market share.
Through its international network, GTE provides strategic planning, media buying, campaign optimisation and market-entry support for brands operating in newly regulated and established markets alike.
Events – World’s highest lift-and-descent ride opens at Auckland’s Sky Tower
AJ Hackett Bungy New Zealand (AJHBNZ) has today launched SkyRide at Auckland's Sky Tower – the world's highest lift-and-descent ride.
Designed to be experienced either solo or with a friend, SkyRide lifts riders 192 metres up the outside of the Sky Tower from street level before returning them to the ground in a fast, controlled descent, creating a completely new way to experience New Zealand's tallest building.
“SkyRide is different to our other experiences. By utilising the very best in technology and innovation, we've created a smooth, swift uplift to the top before what feels like a freefall, but is really a high-speed controlled descent. We're excited to share it with both international visitors and locals alike.”
AJHBNZ has spent nearly 40 years helping people discover what they're capable of, van Asch adds.
SkyCity CEO Jason Walbridge says SkyRide is a fantastic addition to the Sky Tower and reinforces its position as one of New Zealand's most iconic visitor attractions.
“Working alongside AJ Hackett Bungy New Zealand, we're delighted to bring the world's highest lift-and-descent ride to Auckland and offer both locals and visitors a completely new way to experience this iconic landmark.”
Developed by the AJ Hackett Bungy New Zealand team, SkyRide has been independently certified under New Zealand's Amusement Device Regulations.
About AJ Hackett Bungy New Zealand
