* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

    12 ‘Late Show’ Moments Proving Stephen Colbert Can’t Be Replaced – The Mountaineer

    12 Unforgettable ‘Late Show’ Moments That Prove Stephen Colbert Is Truly One of a Kind

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Morgan Adamski Joins PwC in Newly Created Cyber, Data & Technology Risk Division – HSToday

    Morgan Adamski Leads the Charge in PwC’s Cutting-Edge Cyber, Data & Technology Risk Division

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

New Zealand is in a recession: What you need to know

March 23, 2024
in Business
New Zealand is in a recession: What you need to know
Share on FacebookShare on Twitter

NZ Recession Graphic

Photo: RNZ

The headlines have spoken – “GDP: It’s official – we’re in recession” and “New Zealand slips into double-dip recession amid rate hikes”.

Stats NZ has said the economy contracted 0.3 percent in the three months ended September, followed by a 0.1 percent contraction in the December quarter. In reality the economy has shrunk in four of the past five quarters, which included the lingering effects of Covid-19 restrictions.

But what is a recession and what is GDP? RNZ is here to clear it all up.

What’s a recession?

Let’s get the definition out of the way early.

Two consecutive quarters of negative growth (a paradox surely) are called a technical recession, a definition devised in the mid-1970s by a US bureaucrat, Julius Shiskin. Only the US seems to have an official declaration of recession, which is done by the National Bureau of Economic Research.

A survey of economists last year by www.interest.co.nz found as many points of views and alternative definitions as participants, proof of George Bernard Shaw’s quip that if all the economists were laid end to end, they’d never reach a conclusion.

But let’s agree that New Zealand’s economy as a whole has been going backwards for the best part of a year, even if the slowdown has been unevenly felt by people.

“Cue more talk about NZ re-entering technical recession. Technical recession or not (who knows, it could get revised away), to us the bigger picture remains the same. The economy continues to bump along the bottom,” BNZ head of research Stephen Toplis said.

Stats NZ GDP chart

Photo: Stats NZ

What’s gross domestic product (GDP)?

At best, it’s an imperfect measure of all the value of the goods and services produced by an economy – from growing kiwifruit, mending broken cars and legs, building a house, selling big screen televisions or two-minute noodles, to the money spent on holding a general election or hiring a real estate agent .

In other words, a pick’n’mix of consumption, investment, government spending, and trade, and when adjusted for inflation it gives a broad measure of whether an economy is growing or shrinking, running hot or cold.

Although New Zealand talks about primary products being the backbone of the economy – the infant formula flooding into China, the kiwifruit on its way to Europe, the beef headed to US fast food chains – the reality is it accounts for about 6 percent.

Industries and manufacturing accounting for 20 percent, and services for the lion’s share of 66 percent, which is why when consumers stop spending, or buy the plain wrapped supermarket brand rather than the expensive imported brand, or don’t replace the old pair of shoes, hold on to last year’s mobile phone, and skip modernising the bathroom the economy has a palpitation.

GDP is a belated, rear-vision mirror view of the economy, which is bound to be revised. Indeed major revisions stretching back several years occurred in 2023 suggesting the economy had been weaker than previously thought.

Just numbers you might say, except they were the numbers the RBNZ was using to assess how fast or slow the economy was and whether they should be raising interest rates faster, slower, or not at all.

“The weakness we’re seeing and feeling is all by RBNZ design. The RBNZ needs to restrain the economy in their fight against the inflation beast. And today they got that. Well, they got more than that,” Kiwibank chief economist Jarrod Kerr said.

When you get away from the recession headlines and the big GDP numbers, there are indicators making it far more personal.

The per-capita GDP numbers give a partial pointer to our standard of living, our individual shares of the economic pie, and the latest Stats NZ numbers show it shrank 0.7 percent in the past quarter, and close to 3 percent over the past year, largely through the surge in migration.

In many respects, that number is the personal recession being felt by many households.

Is GDP the best measure?

Many argue no.

“GDP measures everything except that which makes life worthwhile,” US Senator Robert Kennedy once said.

Its imperfections include not measuring health, education, equality of opportunity, voluntary work, the state of the environment or sustainability.

It tallies the value of the dairy products produced on New Zealand farms, but not the environmental cost of dirty rivers or methane emissions.

Alternatives are mooted based on happiness, wellbeing, sustainability. One finding some favour is the Genuine Progress Indicator (GPI).

It’s been applied to New Zealand’s economy with results suggesting the economy’s not as well off as many think it is.

Regardless of how good or otherwise GDP is as a measure of growth and prosperity, it will not be toppled any time soon.

In May, the National-led government will publish its first Budget. GDP forecasts will be prominent either as stick to beat the previous government or as statement of ambition to get the country back on track.

No metadata

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RNZ – https://www.rnz.co.nz/news/national/512347/new-zealand-is-in-a-recession-what-you-need-to-know

Tags: businessrecessionZealand
Previous Post

NZ-EU Free Trade Agreement to come into force in May

Next Post

U.S. Senate prepares to vote on deal reached on $1.2 trillion funding bill

Foraging activity by an ecosystem engineer, the superb lyrebird, ‘farms’ its invertebrate prey – besjournals

How the Superb Lyrebird Ingeniously ‘Farms’ Its Invertebrate Prey Through Foraging

July 26, 2025
AI turns immune cells into precision cancer killers—in just weeks – ScienceDaily

AI turns immune cells into precision cancer killers—in just weeks – ScienceDaily

July 26, 2025
Our new book on ideological threats to science – Why Evolution Is True

Unveiling the Hidden Ideological Threats Challenging Evolutionary Science

July 26, 2025

When Veganism Goes to Extremes: Inside the Rise of an Intense Lifestyle

July 26, 2025
The Semi-Fictional Book That Transformed the Culinary World – The New Yorker

The Semi-Fictional Book That Transformed the Culinary World – The New Yorker

July 26, 2025
The economy is continuing to grow, Jack Ablin says – Fox Business

The Economy Keeps Expanding, Says Jack Ablin

July 26, 2025
Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

July 26, 2025
Wellpoint-IBIS Health Clinical Trial – Mass Retirees Association

Wellpoint-IBIS Health Clinical Trial Empowers Mass Retirees for Better Care

July 26, 2025
Disgraced former US Rep. George Santos reports to NJ federal prison to serve 7-year fraud sentence – CNN

Disgraced Former Rep. George Santos Starts 7-Year Prison Sentence in New Jersey

July 26, 2025
Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

July 25, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (739)
  • Economy (763)
  • Entertainment (21,644)
  • General (16,111)
  • Health (9,801)
  • Lifestyle (771)
  • News (22,149)
  • People (765)
  • Politics (772)
  • Science (15,978)
  • Sports (21,260)
  • Technology (15,745)
  • World (746)

Recent News

Foraging activity by an ecosystem engineer, the superb lyrebird, ‘farms’ its invertebrate prey – besjournals

How the Superb Lyrebird Ingeniously ‘Farms’ Its Invertebrate Prey Through Foraging

July 26, 2025
AI turns immune cells into precision cancer killers—in just weeks – ScienceDaily

AI turns immune cells into precision cancer killers—in just weeks – ScienceDaily

July 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version