New Zealand Faces Economic Challenges with Declining GDP per Capita

New Zealand’s economy faces significant challenges, with a 0.6% decline in GDP per capita for Q2 2024, reflecting stagnation since before the COVID-19 pandemic. The current account deficit has surged to $30 billion, driven by weak export performance and rising interest rates. Policymakers must explore strategies to stimulate growth and enhance economic resilience amidst these troubling trends.