People walk out of a store in Auckland, New Zealand on June 15, 2023. (Photo by Zhao Gang/Xinhua)
AUCKLAND, New Zealand, June 16 (Xinhua) -- New Zealand saw a GDP fall of 0.1 percent in the March 2023 quarter, following a 0.7-percent fall in the December 2022 quarter, signaling the start of an economic recession.
The recession was mainly attributed to the impact of the Auckland floods and Cyclone Gabrielle, while export growth and tourism rebound, among others, are expected to handle the challenging times.
People walk past a restaurant in Auckland, New Zealand on June 15, 2023. (Photo by Zhao Gang/Xinhua)
A woman walks on a street in downtown Auckland, New Zealand on June 15, 2023. (Photo by Zhao Gang/Xinhua)
People wait for buses at a bus station in Auckland, New Zealand on June 15, 2023. (Photo by Zhao Gang/Xinhua)
A man walks on a pedestrian overpass in Auckland, New Zealand on June 15, 2023. (Photo by Zhao Gang/Xinhua)
Photo taken on June 15, 2023 shows a view of a container terminal in Auckland, New Zealand. (Photo by Zhao Gang/Xinhua)■
