According To Recent Economic Statistics, New Zealand Is Now Officially In …?

New Zealand is officially in a recession according to recent economic statistics. The country's GDP shrank by **12.2%** between April and June 2020 due to strict measures in response to the Covid-19 pandemic. The GDP fell **0.1 percent** in the March 2023 quarter, following a **0.7 percent** fall in the December 2022 quarter. However, the gross domestic product in current prices in New Zealand is forecast to increase between 2023 and 2028 by in total **49.4 billion U.S. dollars (+19.61 percent)**.

New Zealand has a mixed economy – a free market with some state ownership and control. In mid-March 2020, the New Zealand Government imposed a four-tier alert level system, which placed much of the country's economy into lockdown with the exception of essential services such as supermarkets.

The economy of New Zealand is a highly developed free-market economy. It is the **52nd** -largest national economy in the world when measured by nominal gross domestic product (GDP) and the **62nd** -largest in the world when measured by purchasing power parity (PPP).

Here are some websites that discuss According To Recent Economic Statistics, New Zealand Is Now Officially In …?:
- [BERL](https://www.berl.co.nz/economic-insights/new-zealand-officially-recession)
- [Wikipedia](https://en.wikipedia.org/wiki/Economic_history_of_New_Zealand)
- [Bloomberg](https://www.bloomberg.com/news/articles/2023-06-14/new-zealand-falls-into-recession-as-gdp-drops-in-first-quarter)
- [Stats NZ](https://www.stats.govt.nz/indicators/gross-domestic-product-gdp)

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