Austerity thumps GDP most since 1991

The Kākā by Bernard Hickey · Dec 19, 2024 · 10m

Mōrena. Long stories short, the six things that matter in Aotearoa’s political economy around housing, climate and poverty on Friday, December 20 in The Kākā’s Dawn Chorus podcast above and the daily Pick ‘n’ Mix below are:

* Statistics NZ reported GDP fell 1.0% in the September quarter from the June quarter, which was more than twice as bad as most economists forecast and meant the economy experienced its worst recession since 1991.

* The recession was caused by the Reserve Bank hiking rates higher and for longer than other countries, along with the new Government launching the most…