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Al Jazeera
Al Jazeera
Business

New Zealand slips into second recession in 18 months

New Zealand Recession Barbara Edmonds Nicola Willis Inflation
New Zealand is in recession for the second time in 18 months [Jason Oxenham/New Zealand Herald via AP]

New Zealand has slipped into its second recession in less than 18 months, according to government figures.

New Zealand’s gross domestic product (GDP) shrank by 0.1 percent during the October-December period, following a 0.3 percent contraction in the third quarter, New Zealand’s official statistics agency said on Thursday.

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