New Zealand in Covid recession after worst quarterly GDP fall on record

Finance minister says figures don’t mirror the 1000’s of lives stored and diminished burden on well being gadget

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New Zealand has entered a recession with the financial system contracting 12.2% within the June quarter – the biggest drop since such information started in 1987.

Paul Pascoe at Stats NZ mentioned the GDP fall was once “by way of a long way the biggest on file in New Zealand” and mirrored months spent in lockdown.

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