The economy grew 0.9 per cent in the second quarter, lifting the country out of recession and exceeding expectations. In fact, based on revisions to earlier numbers, the economy may not have been in a technical recession at all. Economists had forecast New Zealand would rebound back into growth in the second quarter of the year. Estimates for June quarter GDP (gross domestic product) ranged from growth of 0.4 per cent to growth of 0.8 per cent. But higher dairy, forestry, and meat exports helped drive the growth of 0.9 per cent in the second quarter.

Source: New Zealand Herald September 21, 2023 01:23 UTC