New Zealand may emerge from recession in second qu

Aihucha News, September 20: New Zealand’s economy may have emerged from a shallow recession in the second quarter as a surge in immigration boosted economic growth. Economists' median forecast showed New Zealand GDP growing 0.4% in the three months to the end of June. Economists expect the country's economy to grow 1.2% year-on-year in the second quarter. Signs of a return to growth after shrinking in the fourth quarter of last year and the first three months of this year will be welcomed by Chancellor Hipkins. With less than four weeks until the election, opinion polls show Hipkins trailing. However, some analysts expect the economy to slip into a double-dip recession by the end of the year in the face of high interest rates and falling prices for dairy and other exports. Jarrod Kerr, chief economist at Kerrbank in Auckland, said policy had tightened significantly and the global environment was weakening. Against this backdrop, their base case was still that the New Zealand economy would fall into recession later this year.