UPDATED 5.15pm: Bill English says he's happy with the way the economy's performing, but he's not popping the champagne corks just yet.

New Zealand's GDP grew by 3.6 per cent in the June year - one of the strongest growth rates in the developed world.

The Finance Minister said it's a pleasing result.

"A bit more confidence around than we thought, more jobs, higher incomes, but the world's a pretty challenging place these days, you don't quite know what's going to happen next.

"We certainly don't feel any complacency about the economy, but it's good to see it's delivering consistent benefits for households."

He accepts not everyone is feeling the effects, like drought affected farmers and the dairy sector who have much lower incomes.

Mr English said at the moment there's a fast growth in population which means per capita income's likely to be a bit softer.

He said it'll be interesting to see what happens when immigration drops off.

ASB chief economist Nick Tuffley said the economy is well-placed to keep generating jobs growth going forward.

"We are seeing that the economy is gaining momentum in construction, and other export sectors, to really hum along quite well."

Tuffley said the growth is a steady trend.

"That's a really healthy growth rate for the New Zealand economy, even though we've had some pretty strong population growth, it translates into a great per capita growth story."

The government has been crowing over the figures, with Finance Minister Bill English saying the result shows National is delivering more jobs and opportunities.

Construction is the biggest part of the growth, and Mr English said that shows we're currently in the middle of a significant building boom.

However, before they pop the champagne corks Labour's Grant Roberston said they should take time to reflect on what it means to the average Kiwi whose disposable income has actually fallen, due to record population growth.

Mr Robertson said the economy's being propped up by high immigration and a housing bubble.

"We have some of the highest levels of immigration we have ever seen in New Zealand, and what New Zealanders will be sitting there thinking is that they're working longer hours, and not feeling like they're getting ahead."

"These statistics show why, because on a per-head basis we're not."