Auckland’s skyline with the Sky Tower. New Zealand’s Covid-19 economic slump may not be as bad as initially feared, with indicators suggesting growth in the third quarter after the lockdown ended. Photo: Bloomberg
New Zealand in recession as coronavirus lockdown hits economy
- The country fell into its deepest economic slump since the Great Depression in the second quarter as Covid-19 restrictions paralysed business activity
- But the 12.2 per cent drop in GDP is unlikely to dent Prime Minister Jacinda Ardern’s chances of winning a second term in the October 17 election
Auckland’s skyline with the Sky Tower. New Zealand’s Covid-19 economic slump may not be as bad as initially feared, with indicators suggesting growth in the third quarter after the lockdown ended. Photo: Bloomberg
