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Liam Dann: NZ Herald Business Editor on the GDP drop and New Zealand moving into a technical recession
Published 2 years, 3 months ago
Description
New Zealand has entered a technical recession after drops in two consecutive quarters.
Stats NZ GDP data shows the economy contracted 0.1 percentage points in last year's final quarter.
It also fell 0.3 in the September quarter.
Herald Business Editor at large Liam Dann told Kerre Woodham that GDP per capita decreased 0.7% in the quarter.
He says it's a quite deep recessionary environment by that measure, and that's what people are feeling on an individual basis.
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