New Zealand limps out of recession

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New Zealand limps out of recession
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New Zealand’s economy has limped out of recession, official data showed Thursday, but the country’s finance minister has warned inflation still casts a “long shadow”.

New Zealand’s economic output grew by 0.2 percent between January and March this year, StatsNZ figures showed.Finance Minister Nicola Willis said it was a positive sign but that the country was still battling rampant inflation and cost-of-living pressures. Once dubbed a “rock-star economy” for its ability to weather financial crises, New Zealand’s crucial agriculture and tourism sectors have been battered in recent years.

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