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20 Sep 2024 3:49
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      Home > News > Business

    The economy has weakened in the second quarter of the year

    The economy has weakened in the second quarter of the year


    Just-released figures from Stats NZ show GDP contracted 0.2 percent in the three months to June.

    Economists predicted a contraction between 0.1 and 0.5 percent.

    This follows the March 2024 quarter showing 0.1 per cent growth.

    Today's figures makes it the fifth quarterly contraction out of the past seven quarters.

    The Reserve Bank forecasts the country is heading for a triple-dip recession with negative growth in the current third quarter.

    © 2024 Newstalk ZB, NZCity

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