There’s an expectation that weakness in the last economic quarter is behind the country's slump.
Stats NZ reports gross domestic product dropped 1% in the September quarter.
We're now in our deepest recession since the Covid-driven slump of 2020.
Westpac Senior Economist Michael Gordon told Heather du Plessis-Allan that the grind the country has been experiencing throughout the year is now showing up a bit more fully than in the last GDP numbers.
He says one thing that stood out was the recognition of the cutbacks in the public sector, which weren’t being fully captured in the figures from three months ago.
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The Mike Hosking Breakfast