GDP decline worse than expected

GDP decline worse than expected
Manufacturing output was down by 1.9% in the final quarter of 2022. (Image: Unsplash)
Andy Fyers
The economy contracted by 0.6% in the final three months of 2022.The decline in economic output was greater than most economists expected, with a consensus forecast for a drop of about 0.2%.Stats New Zealand also revised the September quarter figure of 2% growth down to 1.7%.A further contraction in the current quarter would mean a technical recession.The manufacturing sector was the biggest contributor to the decline, down 1.9%. Retail, recreation and transport/logistics also saw declines.Economists dividedEconomists are divided over the impac...

More Economy

Fonterra windfall brings risks: ASB
Primary Sector

Fonterra windfall brings risks: ASB

Farmers will vote for the Lactalis deal on Oct 30.

Rebecca Howard 24 Oct 2025
How Pharmac's set-up risks higher health costs
Economy

How Pharmac's set-up risks higher health costs

Pharmac's fixed budget discourages use of cost-saving medicines common elsewhere.

Pattrick Smellie 23 Oct 2025
The recurring nightmare of inflation
Opinion

Cameron Bagrie: The recurring nightmare of inflation

There is a need to keep inflation contained.

Cameron Bagrie 23 Oct 2025
No respite for the NZ dollar
Economy

No respite for the NZ dollar

Easing trade tensions isn’t helping the NZ dollar. 

Rebecca Howard 22 Oct 2025