Confirmation the economy has suffered at least five quarters of recession underlines the challenges ahead, Finance Minister Bill English said today.
Several fine-dining restaurants in Otago are closing permanently as the recession bites and customers choose to eat at home more often.
Southern Lakes skifields are maintaining a fiscally prudent approach to the season's start and are ready to react should visitor numbers exceed expectations.
The economic slowdown hit the Otago-Southland services sector in May, evidenced by a sharp drop in the BNZ Capital-Business NZ Performance of Services Index.
MPs have lashed out at banks for failing to reduce mortgage rates, for protecting their profits, and in the case of Australian institutions, for treating New Zealand firms differently.
Cadbury has confirmed more jobs will be cut at its Dunedin plant.
Two Queenstown companies are the latest casualties of the economic downturn.
Employment and wage data will dominate the week ahead, with economists' expectations of rising unemployment likely to be proven correct on Thursday.
The Government is expanding its nine-day fortnight job support scheme to include businesses with 50 to 100 workers, Prime Minister John Key said today.
Otago's rural areas are being hit by the recession, but it is not all gloom. As Simon Hartley discovered, the automotive testing facility on top of Mt Pisa has many international clients booked.
Central Otago's wine and fruit industries are not immune to recession, but industry leaders are confident the district can pull through tough times with hard work and common sense.
Lake Hawea high-country farmer Richard Burdon doesn't feel depressed about the regional economy.
Wanaka businesswomen Cathie Davis and Pip Freeman exude a confidence born from a passion for chocolate, paper and things French.
Berl economist Dr Ganesh Nana is painting a grim picture of how Wanaka and Queenstown will fare in the aftermath of the recession.
The world, we are constantly told, is in the middle of a recession.
There has been a drop of more than $25 million in the total value of building projects in the Queenstown Lakes District in the past nine months compared with the same period last year.
Chinese leaders say their economy has been hit by global downturn but there are signs of improvement, Prime Minister John Key said today.
The nation appears to be collectively enjoying a cheap night at home during the recession with a home-cooked meal, bottle of wine and a DVD.
Staff and management at an Oamaru wool spinning company have negotiated a nine-day fortnight in a bid to adapt to changing economic conditions.
Dunedin's libraries have reported an almost 30% increase in visitors, mirroring a worldwide trend of people choosing cheaper pastimes during the recession.