The latest survey indicates the contraction of the economy deepened in the first three months of the year.
The National Bank's nationwide measure of economic activity fell 1.2% in the March quarter, the fifth successive decline.
Only one of the 14 regions surveyed, Wellington, showed a rise in activity. Bay of Plenty and Otago recorded the largest falls.
National Bank economist Steve Edwards says this is the worst quarterly result in 23 years.
On an annual basis, the survey indicated a fall of 1.4% in the March quarter.
The bank uses 21 indicators, including building permits, retail sales, vehicle registrations, and consumer and business confidence, to determine an overall measure of economic growth.
