Sir John Key: NZ economy in recession but not dire

The New Zealand economy is still in good shape, even though it's technically in recession former prime minister and chair of ANZ Bank John Key says. [READ ON]

In the same conference, independent economist Cameron Bagrie says New Zealand's recession isn't yet showing up in any increase in non-performing mortgages but banks are starting to prepare for it by increasing provisions and it is showing up in the business sector and in the government's tax take. [READ ON]