Reported about 1 year ago
New Zealand's economy has officially emerged from recession with a slight expansion in the first quarter. The gross domestic product increased by 0.2% from the previous quarter, surpassing economists' expectations of 0.1% growth. Despite this positive development, the economy faces challenges due to the Reserve Bank's high interest rate, impacting consumer spending and business investment. Economists predict minimal growth for the year, indicating that the outlook remains fragile despite the recent expansion.
Source: YAHOO