New Zealand GDP shrank -1.6% qoq in Q1, biggest impact to be seen in Q2

<p>New Zealand GDP shrank -1.6% qoq in Q1, worst than expectation of -1.0% qoq. That’s also the largest decline in 29% as the initial effects of coronavirus restrictions impacted on economic activity. “The 1.6 percent fall surpassed quarterly falls during the global financial crisis in the late 2000s,” national accounts senior manager Paul Pascoe said. […]</p>
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