NZ flirting with recession amid sharp economic slowdown

(Image: Getty)

Tue, 14 Mar 2023

By Matthew BrockettNew Zealand may be flirting with recession much sooner than the central bank expected.The economy contracted 0.2% in the final three months of last year, according to a Bloomberg survey of economists ahead of data due Thursday in Wellington. Should it fail to expand in the current cyclone-hit quarter, as some economists forecast, the country would have entered a recession six months before the Reserve Bank of NZ (RBNZ) predicts.“We’ve seen quite a bit of slowing in large parts of the economy,” said Jarr...

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