NZ economy declines 0.9% in June quarter
The economy went backwards over the three-month period, in a much deeper contraction than expected.
Household budgets are being squeezed by cost-of-living pressures.
New Zealand’s economy weakened at a much deeper rate than official forecasts had expected in the June quarter, led by a slump in manufacturing.
Statistics NZ data out today showed GDP declined 0.9% in the June quarter, after a revised 0.9% increase in the March quarter.
The Reserve Bank had
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