NZ economy may see record contraction in 2Q - Treasury

Thu, 09 Apr 2020

New Zealand’s economic contraction in the June quarter may be the biggest in its recorded history, Treasury said. The national lockdown will have an unprecedented impact on economic activity, it said. It did not provide a specific forecast but said "the associated workplace closures and restrictions on activity have brought many areas of economic activity to a halt. The situation is changing rapidly and the degree of uncertainty surrounding the outlook is high.”Treasury said that while it expects economic activity in many sectors to bounc...

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