New Zealand suffered its worst quarterly contraction in 29 years. Prime Minister Jacinda Ardern’s lockdown worked, but her country will struggle with less tourism and immigration. Even successful virus control can have daunting costs, writes jgfarb:
New Zealand on June 18 reported that GDP fell 1.6% in the first three months of the year from the fourth quarter, as the coronavirus brought about the country’s first quarterly decline since 2010 and the largest in 29 years.
As of June 17, the country had 1,156 confirmed Covid-19 cases and 22 deaths, according to the World Health Organization.
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