There is no recession in New Zealand

(Image: Deposit Photos)

Thu, 18 May 2023

New Zealand’s economy will narrowly avoid recession as the combination of a fiscal boost, faster recovery in foreign visitors and the immediate clean-up after the North Island storms stokes activity. The Treasury had been predicting a shallow recession through 2023 as rising interest rates started to bite, but it upgraded its forecast in the budget economic and fiscal update due in part to the government’s more expansionary spending programme providing a 1.7% boost to gross domestic product, having previously been seen as a 0.8...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology Review

The superthin Air vs the iPhone 17 lineup

This iPhone season, it’s all about weighing looks, price and features.

The Wall Street Journal 5:00am

On the Money

On the Money: Oli Lewis, Andrew Hoggard, and more

How to save $6, plus other bits of sometimes-helpful, sometimes-pointless information.

Dileepa Fonseka 20 Sep 2025

On the Money: Oli Lewis, Andrew Hoggard, and more

Technology

Nvidia to invest US$5b in Intel

Joint announcement sends Intel shares soaring 25%.

The Wall Street Journal 20 Sep 2025

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Economy

Economy

Willis teases new RBNZ governor after GDP drop

Finance Minister Nicola Willis says a new Reserve Bank of New Zealand governor will be announced “very shortly” as she comes under growing pressure to tackle NZ’s economic woes.Economists are calling on the RBNZ to cut the official cash rate (OCR) more aggressively after yesterda...

Staff reporters 19 Sep 2025