According to official data revealed on Thursday, New Zealand's agriculture-based economy has entered a recession, with a destructive storm fueling a widespread decline two months before national elections. Following a decline of 0.7 perc ent at the end of 2022, Stats NZ indicated that the GDP shrank by 0.1 percent in the first quarter. World Bank Warns of Global Recession, Cuts Growth Forecasts for Most Countries.

New Zealand Officially Enters Recession

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