New Zealand’s gross domestic product (GDP) crashed by 1% in the September 2024 quarter, a much larger fall than economists had expected. The slump came after...

NZ Herald

Auckland

New Zealand

'Worst since 1991': NZ in deep recession after massive GDP fall

Media Bias/Fact Check

New Zealand Media and Entertainment

New Zealand tipped into recession in the third quarter, official data showed Thursday, with the economy suffering an unexpectedly sharp slump that sent the country's currency tumbling and sparked political finger-pointing.

News24

24.com

South Africa

Sharp slowdown pushes New Zealand into recession

The last two quarterly figures for the economy are the worst since the late 2021 Covid-19 lockdowns.

Ministry for Culture and Heritage

National, Labour blame each other - but is the Reserve Bank responsible for GDP fall?

Wellington, New Zealand — New Zealand tipped into recession in the third quarter, official data showed Thursday, with the economy suffering an unexpectedly sharp slump that sent the country’s currency tumbling and sparked political finger-pointing. The conservative coalition government defended its “respect for taxpayers’ money” as the opposition accused it of feeding a “recessionary fire”.

Ad Fontes Media

Inquirer

Inquirer Group of Companies

Manila

Metro Manila

Philippines

New Zealand falls into recession with abrupt economic slowdown

Widespread weakness across sectors, declining household and government spending, and a shrinking GDP per capita have created difficulties for New Zealand. The downturn pressures policymakers to cut rates further amid hopes of a gradual recovery

Firstpost News

Mukesh Ambani

Mumbai

Maharashtra

India

New Zealand sinks into recession, 5 things to know about its economic decline

New Zealand’s Council of Trade Unions says the slowdown can be bad news for the job market.

Free Malaysia Today News

Kuala Lumpur

Wilayah Persekutuan Kuala Lumpur

Malaysia

New Zealand enters recession after worst contraction since 1991New Zealand’s economy officially entered a recession in the third quarter, with activity contracting much more sharply than anticipated. GDP fell by 1.0% in the September quarter, far exceeding forecasts of a 0.2% drop, while the June quarter was revised to show a 1.1% decline. This marks the steepest two-quarter contraction, outside of the pandemic, […] The post New Zealand enters r…

CDE News

New Zealand enters recession after worst contraction since 1991

The economy shrank 1% this quarter and New Zealand has tumbled into the depths of a recession of Nicola Willis’ making.  
“Nicola’ Willis’ cuts and austerity has fed the recessionary fire, and today’s GDP figures show this, recording the weakest 6-month period since 1991, excluding COVID-19,” said Labour finance spokesperson Barbara Edmonds. “There’s no creative accounting that Nicola can do to make these GDP figures better. This amount of econo…

thedailyblog.co.nz

Nicola Willis spirals country deeper into recession – Labour

New Zealand’s economy officially entered a recession as the country’s GDP dropped by 1.0 per cent in the third quarter (Q3) of 2024, a sharper contraction than anticipated. This marks the steepest two-quarter decline since the 1991 recession, excluding pandemic disruptions. Reportedly, the sharp contraction exceeded forecasts, which had predicted a modest 0.2 per cent drop, with weakness observed across key sectors like manufacturing, constructi…

'Worst since 1991': NZ in deep recession after massive GDP fall

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