New Zealand’s economy shrinks in Q4, changing rate outlook

WELLINGTONĀ  -New Zealand’s economy missed forecasts for growth in the fourth quarter and instead shrank 0.6 percent, official data showed on Thursday, raising the chances of a recession and making further interest rate hikes less likely. Gross domestic product (GDP) failed to meet analysts’ expectations of a 0.2- percent contraction in the December quarter and … Continue reading New Zealand’s economy shrinks in Q4, changing rate outlook