Gross Domestic Product fell by 0.1 percent.

Anybody who thinks the best way out of a recession is austerity measures needs to have their heads examined.

  • HappycamperNZ@lemmy.world
    1·
    8 months ago

    While this sounds alarmist this us actually deliberate and controlled for a good reason.

    We are down to 5% inflation from 8, and pushing GDP down bring us closer to the stable 2% RBNZ is after. This is a good thing for the long term success of the country.