A Double-Dip Recession in the Land of the Long White Cloud
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New Zealand is experiencing a rare double-dip recession, with sluggish consumer spending, a slide in manufacturing, and bleak business confidence. The Reserve Bank of New Zealand describes the economy as "weak." The nation's economy is small but has a history of strong monetary policy, being the first in the world to adopt a formal inflation target. Despite being isolated at the moment, the US economy shows resilience and the chances of a global downturn receding.
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