FILE - Shipping containers are moved at the Port of Lyttelton near Christchurch, New Zealand, on Sept. 17, 2020. The country's economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand's official statistics agency, Stats NZ, announced on Thursday, March 21, 2024. –
Stats NZ said the country New Zealand had returned negative GDP figures in four of the last five quarters, and had a stagnant annual growth rate of just 0.6%. The data made for worse reading in a per capita context with the last five quarters all retreating by an average of 0.8%. Without that population growth stimulating an otherwise stagnant economy, New Zealand’s economic position would be slipping at an even faster rate.
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