New Zealand's economy sank into recession in the third quarter as activity dived far more sharply than expected and output in the prior quarter was slashed, a dire result that cements the case for more aggressive rate cuts.

New Zealand’s economy contracted sharply in the third quarter, extending a bleak period of sustained recession for the South-Pacific nation, but most economists agree that the wheels of change are in motion and the outlook for 2025 will be substantially brighter.

Widespread weakness across sectors, declining household and government spending, and a shrinking GDP per capita have created difficulties for New Zealand. The downturn pressures policymakers to cut ra

New Zealand's economy sank into recession in the third quarter as activity dived far more sharply than expected, while the prior quarter was also revised sharply downward, a dire result that cements the case for more aggressive rate cuts.

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.

New Zealand's economy is 2.1 per cent smaller than it was six months ago, according to new GDP data from Stats NZ.

The price of 10 gm of 24 carat gold is Rs. 78003.0/10 grams in Delhi, whereas 1 kg of silver is Rs. 95500.0/Kg in Delhi. Last night, the US Federal Reserve slashed its benchmark interest rate by (25 bps) or a quarter of a percentage point to 4.