15 Jun 2023

New Zealand officially enters recession

From Midday Report, 12:11 pm on 15 June 2023

New Zealand has officially dipped into a recession according to GDP figures released this morning.

The GDP fell by 0.1 percent in the last quarter according to Stats NZ, in line with expectations.

It's the second consecutive negative quarter after the GDP fell by 0.7 at the end of last year.

RNZ's deputy political editor, Craig McCulloch, spoke with Jimmy Ellingham.