NZ's already tepid economic growth heading for a nose dive

Thu, 19 Mar 2020

New Zealand's economy was already slowing in the final quarter of last year and economists warn a sharp contraction is on the horizon as they call for the Reserve Bank to act. Gross domestic product expanded 0.5 percent in the December quarter, bringing annual growth to 1.8 percent, slowing from a 2.3 percent pace in the prior quarter. "The decline in GDP growth in New Zealand in the fourth quarter shows that the economy was struggling even before the covid-19 outbreak, which will surely drag the New Zealand economy into recess...

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