this post was submitted on 21 Mar 2024

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New Zealand economy shrinks, country in technical recession (www.newshub.co.nz)

submitted 7 months ago by BalpeenHammer@lemmy.nz to c/newzealand@lemmy.nz

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Anybody who thinks the best way out of a recession is austerity measures needs to have their heads examined.

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[–] HappycamperNZ@lemmy.world 1 points 7 months ago

While this sounds alarmist this us actually deliberate and controlled for a good reason.

We are down to 5% inflation from 8, and pushing GDP down bring us closer to the stable 2% RBNZ is after. This is a good thing for the long term success of the country.