The economy has contracted slightly more than predicted by economists and the banks.

Latest GDP figures from Stats NZ show a 0.6 percent decline in the three months to December and compares to a two percent increase in the three months to September.

Herald Business Editor Liam Dann told Francesca Rudkin if the next quarter is also negative, we could already be in a technical recession.

He says economists often say the "on the street definition" of a recession is people losing jobs, but most people's jobs are still secure.

LISTEN ABOVE

The economy has contracted slightly more than predicted by economists and the banks.
Latest GDP figures from Stats NZ show a 0.6 percent decline in the three months to December and compares to a two percent increase in the three months to September.
Herald Business Editor Liam Dann told Francesca Rudkin if the next quarter is also negative, we could already be in a technical recession.
He says economists often say the "on the street definition" of a recession is people losing jobs, but most people's jobs are still secure.
LISTEN ABOVE

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