John Key Oct 2010: “I don’t think we should argue we are in a recession … now that summer has come, economic activity is starting to pick up.”
Building consents lowest on record * unemployment hits 6.8% * retail spending falls * We’ve had double dip recession
PS. For what it’s worth, I think we might just avoid recession in december, only because it would be hard for the economy to shrink again relative to the disastrous september quarter. I’m picking 0.1% growth, still down on a per capita basis.