New Zealand Has Officially Dipped Into Recession
New Zealand has followed Germany and officially slipped into recession. The economy shrank in the first quarter, data showed on Thursday, reducing the risk the central bank would need to hike interest rates further but creating a new headwind for the government’s re-election hopes.
Germany Is Officially In A Recession
According to a report by Reuters, gross domestic product (GDP) matched analysts’ expectations of a 0.1% contraction in the March quarter but was well below the Reserve Bank of New Zealand’s (RBNZ) forecast of 0.3% growth. Furthermore, fourth-quarter GDP was revised to a contraction of 0.7% from a decline of 0.6%.
“It’s clear that the New Zealand economy is losing momentum,” Westpac senior economist Michael Gordon said in a note. “What remains to be seen is whether things have slowed enough to put us on a path back to low and stable inflation.”
Weakness in the economy was “broad-based” with output from half of the country’s industries contracting, according to the Statistics New Zealand data. Growth was hurt by the impact of two major cyclones and flash floods in Auckland in January and February.
Employment remains strong in New Zealand which is limiting the effects of a recessionary environment for much of the population. But the problem of inflation persists. Inflation in New Zealand is tracking at 6.7%, well above the central bank’s target band of 1% to 3%.
The media is also attempting to stress that the recession remains technical after two consecutive quarters of contraction. It has become a significant political issue as New Zealand heads towards an election in October, with voters struggling with higher living costs.
Bond Investors Say A Recession In The U.S. Is Inevitable
Billionaire Says The U.S. Is On The Brink Of A Recession
The U.S. may or may not be on the brink of a recession, but it’s hard to tell when the data is manipulated and the ruling class and central banks decide what the public needs to believe.
This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.
Source: https://www.shtfplan.com/headline-news/new-zealand-has-officially-dipped-into-recession
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,017,101 |
| Stories: | 8,449,274 |
Whistler Blowers, Insiders
