: Public Health
New Zealand Economy Surges Out of Recession In V-Shaped Recovery
Gross domestic product surged by 14 percent in the third quarter, helped by aggressive stimulus measures and consumer spending.
Gross domestic product surged 14% from the second quarter, when it contracted a revised 11%, Statistics New Zealand
said Thursday. Economists forecast
a 12.9% gain. From a year earlier, the economy grew 0.4%, confounding the consensus forecast
for a 1.8% decline.
“We can only identify three other countries that have achieved the ‘full recovery’: Taiwan
,” said Stephen Toplis, head
at Bank of New Zealand in Wellington. “New Zealand is definitely in a very small minority.”
The government’s determination to eliminate the virus saw it impose one of the strictest lockdowns in the world but allowed a quicker resumption of economic activity once it was stamped out.
New Zealand has recorded 1,744 confirmed cases of Covid-19 and just 25 deaths.
New Zealand Coronavirus Cases
(as of December 17, 2020): 2,100
More N.Z. Stat's