New Zealand's economy experienced a slight decline of 0.1% in the first quarter, leading the country to enter a technical recession. This means that the economy has contracted for two consecutive quarters.
New Zealand's economy experienced a slight decline of 0.1% in the first quarter, leading the country to enter a technical recession. This means that the economy has contracted for two consecutive quarters.
New Zealand's economy shrank slightly by 0.1% in the first three months of the year, according to the latest government data. This means that the country has entered a technical recession, as it experienced two consecutive quarters of economic decline. Compared to the same period last year, the economy actually grew by 2.9%. Economists had predicted a small contraction of 0.1% for the quarter and a 2.6% growth for the year. Following the release of this news, the value of the New Zealand dollar dropped slightly against the U.S. dollar, while stock prices remained relatively stable, with a small increase of 0.144% on the S&P/NZX 50 Index.
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