The revelation New Zealand's entered recession - could be the newest political hot potato
The revelation New Zealand's entered recession - could be the newest political hot potato
19 December 2024
Stats NZ has released data showing GDP fell one percent in the three months to September - and it's revised the preceding quarter's contraction down to 1.1 percent.
It's the economy's weakest six months since 1991 - excluding Covid years.
The Herald's Liam Dann says it shows we weren't in recession last year after all - and Labour will feel hard done by.
He says the Government will claim we need this recession.
Dann says the Reserve Bank needed to get rid of inflation - and the Government will defend its spending cuts.
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