Andrew said:
2. Name the first month New Zealand was in a recession and the size of it.
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New Zealand Enters Recession With Q2 GDP At Minus-0.2%
(RTTNews) - New Zealand officially slipped into a technical recession in the second quarter of 2008.
Statistics NZ reported Friday that the nation's Gross Domestic Produce shrank 0.2 percent in the three month period to June. It followed a contraction of 0.3 percent in the first quarter, meeting the widely held definition of a recession as two consecutive quarters of negative GDP.
The last time New Zealand experienced two straight quarters of declining economic activity was for the three-quarter period through March 1998.
The Q2 contraction was smaller than the 0.5 percent reduction most economists expected.
For the full year to June, GDP rose 2.6 percent.
Statistics NZ said activity in service industries decreased 0.4 percent while activity in goods-producing industries was down 0.2 percent.
Household consumption expenditure fell 0.3 percent for the quarter following a decline of 0.4 percent in the preceding quarter.