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New Zealand’s gross domestic product, Thursday It fell 0.1 percent in the first quarter as the central bank enters one of the most aggressive rate hike cycles in the world, according to government data released today.
Wellington’dan The latest data coming in is a technical push for the economy after reporting a revised 0.7 percent decline in the last quarter of 2022. to the recession pointing out.
A technical recession is defined as two consecutive quarters of contraction. Compared to a year ago, the economy grew by 2.9 percent in the first quarter. economists, New Zealand’s They had expected a 0.1 percent contraction quarter-on-quarter and a 2.6 percent annual growth.
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