Story perspectives
New Zealand Faces Recession: Currency Drops, Unemployment Rises
2/4/2025
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Story summary
- The New Zealand dollar is currently at 0.5608, reflecting a 0.35% decline.
- Q4 2024 employment report estimates a -0.2% quarterly change, with unemployment projected to rise to 5.1%.
- New Zealand's GDP decreased by 1% in Q3, signaling a recession.
- The Reserve Bank of New Zealand intends to reduce rates by 50 basis points on February 19.
- US tariffs could affect inflation and exports; JOLT Job Openings data is anticipated today.
