New Zealand’s economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show.
Gross domestic product fell by 0.1% in the March quarter, following a revised 0.7% fall in the previous quarter, Statistics New Zealand said. That fulfils the nation’s definition of a recession, which is at least two consecutive quarters of negative growth.
Read More : New Zealand’s Economy Enters Recession as Higher Interest Rates Take Toll