NZ economy ticked up in 1Q but economists see little reason to celebrate

The slight growth was in line with Reserve Bank forecasts but GDP per capita fell for the sixth successive quarter. (Image: Getty)

Kaya Selby

Thu, 20 Jun 2024

New Zealand may have escaped recession, but economists say there is not much reason to celebrate.Data today showed the economy grew by 0.2% quarter-on-quarter in the March quarter. This means the country is no longer technically in a recession as it followed two consecutive quarters of contraction. The headline number was slightly higher than economists had expected and directly in line with forecasts from the Reserve Bank of NZ in the May Monetary Policy Statement. GDP rose 0.2% over the year ended March 2024 versus the year en...

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