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.

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.

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 contracted much more than expected in the third quarter and the second quarter was revised lower, putting it into recession. The local dollar fell.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousGross domestic product declined 1.

Economy shrank 1 per cent in the three months to September from the previous quarter. Read more at straitstimes.com.

New Zealand’s economy suffered a deeper-than-expected recession in the second and third quarters as high interest rates curbed demand. The local dollar fell.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousGross domestic product declined 1.