New Zealand’s economy pulls away from brink of recession

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New Zealand’s economy pulls away from brink of recession
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Business services drove second-quarter growth to 0.9% following the Q4 2022 contraction.

According to revised data, quarterly economic output was unchanged in January–March, not 0.1% lower than previously estimated.

The country narrowly avoided a recession in the first quarter of 2023, revised figures from Stats NZ showed. And in the latest three months to June 30, quarter-on-quarter growth picked up to 0.9%, the official statistician said.

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