Are We In A Recession 2024 Nz. After a strong recovery from the pandemic, the new zealand economy has slowed, with higher interest rates weighing on housing construction, and inflation undermining purchasing power and consumption. New zealand’s gross domestic product (gdp) fell 0.2% in the june 2024 quarter, narrowly escaping technical recession after a downward revision to the march quarter.

New zealand’s gross domestic product (gdp) fell 0.2% in the june 2024 quarter, narrowly escaping technical recession after a downward revision to the march quarter. New zealand is now in a recession as official data shows the economy has contracted over two consecutive quarters.