Massive GDP fall: NZ in deep recession – worst since 1991
Dec 18, 2024 · That puts New Zealand into the deepest recession since the Covid-related slump in 2020. Kiwibank’s senior economist Mary Jo Vergara said that – excluding Covid – it was the worst six-month ...
New Zealand Enters Recession: Economy Faces Worst Downturn …
Dec 19, 2024 · New Zealand's economy shrank by 1% in Q3, plunging the country into recession as GDP declines and the currency hits a new low. Widespread sectoral weakness and reduced spending have raised concerns of job losses, fueling political blame and calls for rate cuts amid hopes for recovery next quarter
Economy back in recession as GDP shrinks by 1% | RNZ News
Dec 18, 2024 · The economy was in a deeper than expected recession in the middle of the year, with widespread contraction across many sectors. Stats NZ data shows gross domestic product, the broad measure of economic growth, fell 1 percent in the three months ended September, to be 1.5 percent lower than a year ago. ... New Zealand's economic activity was the ...
New Zealand sinks into recession, more rate cuts coming
Dec 18, 2024 · New Zealand's economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was slashed, a dire result that cements the case for ...
New Zealand Suffers Deeper-Than-Expected Recession; Kiwi Drops
Dec 18, 2024 · New Zealand’s economy suffered a deeper-than-expected recession in the second and third quarters as high interest rates curbed demand. The local dollar fell to a two-year low.
New Zealand slips into its second recession in 18 months | AP News
Mar 21, 2024 · New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023. The country’s economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand’s official statistics agency, Stats NZ, announced on Thursday.
New Zealand: Economy slips into recession after interest rate hikes - BBC
New Zealand's economy has fallen into recession after the country's central bank aggressively raised interest rates to a 14-year high. Its gross domestic product (GDP) fell by 0.1% in the first...
New Zealand exits recession, but economic troubles linger
Jun 20, 2024 · New Zealand’s economy has crawled out of recession after back-to-back downturns in the span of 18 months. Gross domestic product (GDP) grew 0.2 percent in the first three months of the year,...
New Zealand slips into second recession in 18 months
Mar 21, 2024 · New Zealand has slipped into its second recession in less than 18 months, according to government figures. New Zealand’s gross domestic product (GDP) shrank by 0.1 percent during the...
GDP: It’s official - we’re in recession - NZ Herald
New Zealand has entered recession. Gross domestic product (GDP) fell 0.1 per cent in the December 2023 quarter, compared with the September quarter (which also shrank).