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21 Sep 2020 6:14
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  •   Home > News > Business

    We mightn't rebound from the record low of June's quarter ... as well as we'd like

    We mightn't rebound from the record low of June's quarter ... as well as we'd like


    New Zealand is officially in a recession for the first time in 11 years.

    The gross domestic product shrank 12.2 per cent in the June quarter -- showing the impact of the lockdown and border closures.

    Chief Economist at ANZ Bank, Sharon Zollner, says the lockdown was only the beginning -- and there's still some hurt to come.

    She says the pain from the closed border is only being felt now, and tourism is highly seasonal -- so we will see more pain when we hit the summer months with tourists arriving.

    © 2020 Newstalk ZB, NZCity


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     19 Sep: An agricultural economist is relieved to see Fonterra back in the black
     18 Sep: After three weeks of cyber attacks the NZX has launched a back up website
     18 Sep: A large tourism company has posted a profit, despite covid pressures
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     Top Stories

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    Auckland's keeping a clear mind despite the impending departure of key All Blacks from their squad More...


    BUSINESS BUSINESS
    Hopes Aucklanders affected by changes to public transport services adapt and find alternative routes More...



     Today's News

    Politics:
    New pre-election promises were absent from National's virtual campaign launch 4:36

    Health & Safety:
    New Zealand's Covid-19 case numbers are tracking in the right direction 4:36

    Auckland:
    Fire crews alongside two trucks are battling to put out a house fire in Auckland's Royal Oak 21:17

    Rugby League:
    The Warriors have let slip a comfortable early lead to lose their penultimate game of the NRL season 18:57

    Motorsports:
    Scott McLaughlin has led home a one-two finish for DJR Team Penske, in the final Supercars race of the weekend at The Bend 18:37

    Rugby League:
    The Warriors have fallen behind in their NRL match with the Raiders in Canberra 18:07

    Rugby:
    Auckland's keeping a clear mind despite the impending departure of key All Blacks from their squad 17:27

    Rugby League:
    Meanwhile it was news that was feared, and now confirmed 16:57

    Golf:
    Matthew Wolff is hoping to continue his momentum into the final round of the US golf Open in New York 16:27

    Rugby League:
    The Tampa Bay Lightning have drawn first blood in the Stanley Cup finals, defeating the Dallas Stars 4-1 in Edmonton 15:47


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