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 latest slip follows a 0.3 per cent contraction in the September quarter, which fulfils the technical definition of a recession. It is New Zealand’s second recession event in the past 18 months.New Zealand has entered another recession. The slump was largely expected with New Zealand's central bank forecasting a flat figure, while bank economists suggested a range of results between a narrow contraction and fractional growth.
Without that population growth stimulating an otherwise stagnant economy, New Zealand’s economic position would be slipping at an even faster rate.
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