Asia & Pacific

New Zealand Finally out of Recession, With 0.7 Percent Lift in GDP

New Zealand’s economy grew by 0.7 percent in the December quarter, signalling a significant turnaround compared to the post-pandemic record lows previously.
New Zealand Finally out of Recession, With 0.7 Percent Lift in GDP
Pedestrians and shoppers on Ponsonby Road in Auckland, New Zealand, on July 27, 2022. Phil Walter/Getty Images
Rex Widerstrom
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New Zealand’s economy is showing signs of recovery, exiting a recession in the 2024 December quarter with growth of 0.7 percent.

Although 1.1 percent lower than a year ago, it has exceeded expectations, which had anticipated quarterly growth of 0.3 percent.

Rex Widerstrom
Rex Widerstrom
Author
Rex Widerstrom is a New Zealand-based reporter with over 40 years of experience in media, including radio and print. He is currently a presenter for Hutt Radio.