Skip to content

It’s the Economy Stupid

The Government should be careful it’s not sleepwalking the country into the final act of a disaster decades in the making.

Photo by Anne Nygård / Unsplash

New Zealand is in a recession and we have been for two years now. Our per capita recession has surpassed the Great Financial Crisis in length after contracting for seven consecutive quarters.

I’m not a fan of GDP as the be-all-and-end-all economic figure, but a decline in our yearly economic activity by 0.5 per cent is a serious thing; even more so when you factor in that our per capita GDP has shrunk by a massive 2.7 per cent in that time. GDP encourages countries to import more economic units that can then increase the total money creation and spending power.

This post is for subscribers only

Subscribe

Already have an account? Sign In

Latest