Massive GDP fall: NZ in deep recession

Did New Zealand fall into recession in the third quarter? (Image: 123rf)

Thu, 19 Dec 2024

New Zealand’s gross domestic product fell 1.0% in the September 2024 quarter.The massive fall came after a revised 1.1% decrease in the June 2024 quarter, according to figures released by Stats NZ on Thursday.“The structure of the New Zealand economy can change quickly, which is why we update with new data each year,” macroeconomic growth spokesperson Jason Attewell said.“The data incorporated this year shows stronger growth over the last year, followed by two significant falls in the latest quarters.“We balance th...

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