New Zealand in recession as March quarter GDP falls 0.1%
Stats NZ data reveals two successive quarterly declines in the economy.
The RBNZ had forecast a modest 0.3% increase in the quarter.
Jonathan Mitchell
Thu, 15 Jun 2023
New Zealand has just entered a recession – with Stats NZ data out today showing the economy contracted by a modest 0.1% in the March quarter.
It followed a revised contraction of 0.7% in the December quarter – with two successive declines resulting in a technical recession.
The RBNZ had forecast
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Jonathan Mitchell
Thu, 15 Jun 2023
Contact the Writer: jmitchell@nbr.co.nz
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