Wellington, Dec 19, 2024 (AFP) - New Zealand falls into recession with abrupt economic slowdown

NAMPA / AFP

2024-12-19

New Zealand tipped into recession in the third quarter, official data showed Thursday, with the economy suffering an unexpectedly sharp slump that sent the country's currency tumbling and sparked political finger-pointing. The conservative coalition government defended its "respect for taxpayers' money" as the opposition accused it of feeding a "recessionary fire". The economy has for months teetered on the verge of recession, with consumer senti......

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