New Zealand in worst economic slump on record

New Zealand has plunged into recession for the first time in a decade, forcing Prime Minister Jacinda Ardern to defend her pandemic response ahead of next month’s general election.

The national data agency Stats NZ said the 12.2% contraction from April to June was “by far the largest” on record, with the country strictly locked down and its borders closed for almost two months.

The construction and manufacturing sectors fell particularly sharply.

During the Great

Depression, GDP dropped by 5.3% in 1931 and a further 7.1% in 1932.