Today's GDP data has confirmed New Zealand has entered a technical recession.

A new report from Stat NZ shows the economy contracted 0.1 percentage points in the final quarter of last year, following a 0.3 point drop in the September quarter.

ZB senior political correspondent Barry Soper says there's no doubt the books are in a poor state, and the current Government inherited it from their Labour predecessors.

LISTEN ABOVE 

Today's GDP data has confirmed New Zealand has entered a technical recession.
A new report from Stat NZ shows the economy contracted 0.1 percentage points in the final quarter of last year, following a 0.3 point drop in the September quarter.
ZB senior political correspondent Barry Soper says there's no doubt the books are in a poor state, and the current Government inherited it from their Labour predecessors.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.