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GDP: Economy weaker than expected in March quarter

Economist 'shocked' by quarterly decline, with worker absenteeism weighing on economy.

Economists were surprised by fall in economy in March quarter.

Economists were surprised by the quarterly decline in New Zealand’s economy, which was weaker than forecast at the beginning of 2022 because of a fall in primary and goods producing sectors.

Stats NZ data out today showed a fall of 0.2% in the March quarter, following a 3% rise in the December

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GDP: Economy weaker than expected in March quarter
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