New Zealand: First developed nation to fall into a recession following the Sub-Prime crisis
Posted September 26, 2008on:
Congratulations New Zealand – once again, leading the world in terms of an economic downturn. The 0.2% fall in production GDP in June puts us in a technical recession!
Given how trade exposed we are I would assume that we would lag the rest of the world – but mother nature came in, provided us with a drought, and dragged us into recession.
More details on GDP to come, maybe 🙂