New Zealand slips into its second recession in 18 months as economy contracts

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The country’s economy shrank by 0.1 in the quarter to December.

New Zealand slips into its second recession in 18 months as economy contracts. Commuters in Auckland

The latest slip follows a 0.3% contraction in the quarter to September, which fulfils the technical definition of a recession. It is New Zealand’s second recession event in the past 18 months. The data made for worse reading in a per capita context with the last five quarters all retreating by an average of 0.8%.

 

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