Recession or not, the economy is anaemic

(Image: Getty)

Mon, 18 Mar 2024

The jury is out on whether New Zealand entered another recession in the fourth quarter, but what is certain is that growth was anaemic in 2023.ASB Bank economist Nathaniel Keall was tipping a 0.2% contraction in quarter and said the weakness in growth was broad-based.The economy contracted 0.3% in the third quarter, and another quarter of negative growth would mean a technical recession. According to Keall, until recently, the service sector has been propping up growth in the face of a housing-market driven deceleration in construction act...

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