New Zealand may be heading into recession after Stats NZ revealed that national GDP had fallen into the red during the December quarter. It comes a few months after the governor of the Reserve Bank of New Zealand (RBNZ), Adrian Orr, admitted it was engineering a recession to combat inflation. “What we are looking at…
New Zealand Close to Recession as Economy Stutters: Statistics Bureau
March 17, 2023
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Asia & PacificAustraliaBusiness & MarketseconomyGrant RobertsonInternationalNew ZealandNicola WillisrecessionWorld
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Cost of Living Is ‘Number 1’ Priority, Newly Sworn in NZ PM Says as Inflation Remains at 7.2 Percent
An increasing number of New Zealand families are feeling the pinch from the rising cost of living, as the inflation rate remained at a near three-decade high in the three months to December. Stats NZ revealed the annual inflation rate in the December quarter remained stubbornly high at 7.2 percent. This was driven by housing…
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