Covid pushes New Zealand into worst recession in years
17-09-2020, 15:59

Font size: [ A+ ] / [ A- ]

 

New Zealand is in its deepest recession in decades, following strict measures in response to the Covid-19 pandemic which were widely praised.

The country's GDP shrank by 12.2% between April and June as the lockdown and border closures hit.

It is New Zealand's first recession since the global financial crisis and its worst since 1987, when the current system of measurement began.

But the government hopes its pandemic response will lead to a quick recovery.

The nation of nearly five million was briefly declared virus free, and although it still has a handful of cases, it has only had 25 deaths.

The economy is likely to be a key issue in next month's election, which was delayed after an unexpected spike in Covid-19 cases in August.

Stats NZ spokesman Paul Pascoe said the measures implemented since 19 March have had a huge impact of some sectors of the economy.

"Industries like retail, accommodation and restaurants, and transport saw significant declines in production because they were most directly affected by the international travel ban and strict nationwide lockdown," he said.

Prime Minister Jacinda Ardern's government has said the success in suppressing the virus is likely to help recovery prospects.

Finance Minister Grant Robertson said the GDP numbers were better than expected, and suggested a strong recovery ahead.

"Going hard and early means that we can come back faster and stronger," he said.

Some economists are also predicting a swift recovery, because of New Zealand's strong response to the virus.

"We expect the June quarter's record-breaking GDP decline to be followed by a record-breaking rise in the September quarter," said Westpac Senior Economist Michael Gordon.

Ms Ardern said she backs the economy's ability to rebound.

"I think one of the key questions here is not just about what's happened over that June quarter in terms of the effect of lockdown. It's actually about the rebound - and I back New Zealand's rebound," she said.

Ms Ardern said activity is already picking up as the country has been able to open up a lot more quickly compared with other nations.

"Even with some of the more recent restrictions, we've seen a return to activity, whereas compared to Australia we are in a much better position," she added.

However Treasury forecasts released yesterday suggested massive debt and continuing disruptions are likely to delay a full recovery.

The opposition National party accused the government of a lack of pragmatism that made the impact worse than it needed to be.

New Zealand recorded a steeper drop than neighbouring Australia, where the lockdown was less severe.

But the state of Victoria has faced a second lockdown, which is likely to weigh on Australia's economic recovery.

 

BBC

 

Comments: 364
#64   Demetria
      
Hi there, just became aware of your blog through Google,
and found that it is really informative. I'm gonna
watch out for brussels. I will appreciate if
you continue this in future. A lot of people will be benefited from
your writing. Cheers!

Feel free to visit my blog ... Quality Cheap Proxies
9 August 2025 17:18
#63   Kris
      
what is a poker high roller

References:


blackcoin.co
8 August 2025 11:56
#62   Rocky
      
roller

References:


High Roller Online Casinos (Autovin-Info.Com)
8 August 2025 09:31
#61   Arletha
      
It's fantastic that you are getting ideas from this paragraph as well as from our dialogue made at this place.


Here is my web page; casino (Toni)
7 August 2025 19:23
#60   Zac
      
Quality posts is the important to attract the viewers to pay a visit the web site, that's what this web page is providing.


References:


Which Of The Following Compounds Is Not Derived
From Cholesterol?; Peatix.Com,
6 August 2025 15:11
#59   Rosemary
      
sustanon cycle for beginners

References:


Crazy Mass Cutting Stack (Https://Support.Mikrodev.Com/Index.Php?Qa=User&Qa_1=Shirttitle77)
6 August 2025 11:05
#58   Betsy
      
whoah this blog is great i like studying your posts.

Stay up the good work! You already know, many individuals are hunting round for this information, you can aid them
greatly.

References:


steroids for cutting and size (https://www.dermandar.com/user/yardjute9/)
6 August 2025 10:29
#57   Chante
      
Awesome site you have here but I was curious if you knew of any discussion boards that cover the
same topics talked about here? I'd really love to be a part of online community where I can get opinions from other knowledgeable people that share
the same interest. If you have any recommendations, please let me
know. Cheers!

Here is my homepage; pin up casino app
4 August 2025 07:59
#56   Stephania
      
dbol steroids

References:


jobpool.ng
3 August 2025 16:51
#55   Archer
      
are steroids legal in bodybuilding

References:


jobsahi.com
3 August 2025 16:09
#54   Eula
      
long term steroid use

References:


https://ehrsgroup.com
3 August 2025 14:34
#53   Albertha
      
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn't appear.
Grrrr... well I'm not writing all that over again. Anyways,
just wanted to say superb blog!

my webpage :: superslot
3 August 2025 07:48
#52   Marla
      
Greetings! I know this is kinda off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form?
I'm using the same blog platform as yours
and I'm having problems finding one? Thanks a lot!

Also visit my site: вакансии грузия Тбилиси
3 August 2025 06:50
#51   Rogelio
      
Hi this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you
have to manually code with HTML. I'm starting
a blog soon but have no coding skills so I wanted to get guidance from
someone with experience. Any help would be greatly appreciated!


my site ... ทางเข้าu31
2 August 2025 03:40
#50   Darrin
      
To get the bonus however, you should confirm
your account and e mail tackle inside 3 days of registering.
After that, you’ll get a coupon in your inbox that gives you 250K
Gold Coins + $25 Stake Money. Baccarat is the most popular with Asian high rollers and
since it's a recreation of probability there
isn't any method to predict when a successful streak will occur and its mystery captivates millions.
Both online baccarat and live supplier baccarat are famed for
attracting big high roller consideration. Kevin was raised on sports activities since a young teen and following a (fortunate)
damage pursued new hobbies in table games corresponding to Blackjack
and Poker. Since 2009 Kevin has been writing for on line casino websites for various massive names
within the trade and CasinoSites.us is but considered one of his newest passion projects.

You can discover extra details about all of the complaints
and black points within the 'Security Index explained' part of this evaluate.

The casino ground sprawls on a hundred and
ten,000 sq ft packing a selection of slots and desk video games.
There are 1,300 devoted slot machines to search out on the property with the betting range various
$0.01 – $500. On Line Casino tournaments are frequent and you've got a chance to journey into downtown Las
Vegas and leave a winner. To spin the Max Wager slot machines, you need to use Max Wager On Line Casino Chips, which may only be bought from Vendors in the VIP Lounge on Fleet.

In some casinos, you may discover other colors similar to pink or orange
chips used for higher denominations, however the above colors are the commonest and simply
recognizable. As previously mentioned, these
values could barely range depending on the particular casino or region. For
instance, luxury casinos might use completely different values for particular chips or assign chips unique designs to cater to
their high-roller friends. The participant from India is dissatisfied, as a outcome of the on line casino requested him to wager his deposit so as to request withdrawal.

If you wish to order this as an entire set
with a 500 rely aluminum chip case, dealer button and a
pair of decks of playing cards the price will be $80.00 plus transport.
Email us at to order, provide us with chip
quantity per denomination and your complete shipping tackle, and we are going to reply to you with
an invoice; just use this item as the email topic.
+ Now that you have each the Good Karma and Feeling Lucky buff your probabilities of successful prizes from the Emperor’s Machine are one hundred
pc.
The participant from Eire claims that Shangri-La on line casino
has scammed him for 650 EUR after blocking his account with
out reason. Despite verifying his account and making deposits, he encounters
a suspension primarily based on unspecified suspicious actions.
He expresses frustration over the dearth of transparency regarding the
interior checks that led to the account closure.

There, high-rollers will have the ability to
take pleasure in high stakes video games, ranging from as little as $1-$2 and progressing to $65-$1000.
High limits are positively an MGM Grand specialty and you will positively have
a blast. You can play as just one of many crowd or head right out for the VIP tables the place
the bets shall be price $5,000 per hand. As a half of the MGM Resorts
community of properties, the Mandalay Bay comes with the standard M life Rewards program.
All Of A Sudden, touring in Las Vegas provides tons of synergies if you
select to high-roll at any of the properties
owned by the corporate.
There is not any assure that success in this game will
translate into ‘real money’ playing sooner
or later. Apart from the exceptional bonus perks, excessive rollers can take part in VIP unique tournaments to compete in opposition to like-minded gamers and
revel in a play on excessive volatile slots.
The one thousand bulk Excessive Roller poker chips are made with a clay/composite materials mix that offers
the chip a prime quality really feel and weight of 14 grams.
There is a picture of a one hundred dollar invoice within the graphics which also provides these chips the name of Ben Franklin poker chips.
The one thousand Bulk High Roller poker chips comes with ten 100 chip acrylic trays.


References:


blackcoin.co
1 August 2025 10:07
#49   Kattie
      
What's up everyone, it's my first go to see at this web page, and article is truly fruitful
in support of me, keep up posting these posts.

Also visit my blog post Get the facts
31 July 2025 02:06
#48   Meredith
      
If you want to grow your experience only keep visiting this website and be updated with the
latest news update posted here.

my web page ... click resources
30 July 2025 22:48
#47   Shane
      
Everyone loves what you guys are up too. Such clever wrk and coverage!
Keep up the terrific works guys I've youu guys to my personal blogroll.



Also visit my blog post: luxury cabs
26 July 2025 14:04
#46   Bridget
      
I was more than happyy to discover this page. I need to
to thank you for ones time just for this wonderful read!!
I definitely enjoyed every part off it and i also have
you book-marked to see new things on your blog.


Here is my page: специалисты по
таможенному оформлению Шереметьево
26 July 2025 03:33
#45   Uta
      
Greetings! This is my first visit to your blog! We are a collection of volunteers and starting a
neww project iin a community in the same niche. Yourr
blog provided us beneficial information to work on. You hazve dlne a marvellous job!


Feel free to visit my blog; брусок купить
25 July 2025 10:07
Add Comments

Name:*
E-Mail:
  Geo Keyboard  
 

Dear reader, guardian.ge welcomes your comments. Please express your views on topic and be respectful of others.

bold italic underline strike | align left centered align right | Ensert smilies insert linkInsert protected URL Choice the color | hidden text insert quote Convert selected text from transliteration to Cyrillic alphabet Insert spoiler

Code: *


Back1 ... 10 11 12 13 14 15 16 17 18 19Next