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New Zealand in recession as coronavirus lockdown hits economy-Autopresse.eu

New Zealand in recession as coronavirus lockdown hits economy-Autopresse.eu

New Zealand in recession as coronavirus lockdown hits financial system

2020-09-17 02:37:04


New Zealand suffered its worst financial stoop for the reason that Nice Despair within the second quarter as a strict nationwide lockdown to fight the coronavirus introduced the nation to a standstill.Gross home product plunged 12.2 per cent from the primary quarter, Statistics New Zealand mentioned on Thursday in Wellington. That’s the largest three-month contraction since quarterly data started in 1977.Economists had forecast a 12.5 per cent decline. From a yr earlier, the financial system shrank 12.four per cent,…

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