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GDP figures reveal economy back in recession

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Shoppers in Commercial Bay, Auckland CBD for Black Friday Sales 29 November 2024.

Photo: Yiting Lin / RNZ

The economy contracted significantly in the third quarter as the winter energy crunch weighed on activity.

Stats NZ numbers show gross domestic product - a broad measure of economic growth - fell 1 percentage point in the three months ended September. 

It follows a revised 1.1 percent fall in the previous quarter - meaning the economy is back in recession. 

RNZ Business Editor Gyles Beckford speaks to Kathryn.