Statistics New Zealand released its GDP data on late Wednesday evening. New Zealand's GDP rose 0.9% in the fourth quarter, exceeding expectations for a 0.6% increase, after a 0.9% gain in the third quarter.

The increase was driven mainly by a rise in the service industries.

The overall services sector rose 0.8% in the fourth quarter, construction climbed 2.5%, while the manufacturing sector declined.

On a yearly basis, New Zealand's GDP climbed by 2.3% in the fourth quarter, beating expectations for a 2.0% growth, after a 2.3% rise in the third quarter.