New Zealand Officially Enters Recession: Technical Recession in NZ After Country's Economy Contracted 0.1% in First Quarter of 2023
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.
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
BREAKING: 🇳🇿 New Zealand officially enters recession
— The Spectator Index (@spectatorindex) June 14, 2023
(The above story first appeared on LatestLY on Jun 15, 2023 07:24 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
