Business
A2 Milk (ASX:A2M) share price tumbles on NZ recession fears
The A2 Milk Company Ltd (ASX: A2M) share price fell 2.54% today after New Zealand’s GDP output for the December quarter fell by 1.0%, according to the New Zealand government. A Reuters poll of analysts had predicted our trans-Tasman neighbour’s economy would lift by 0.1% in the quarter.
New Zealand’s GDP for the year fell by 0.9%. The fall is leading many to worry a second technical recession is imminent. A technical recession is defined as 2 consecutive quarters of negative GDP growth. Many economists are tipping a second contraction this quarter, according to Bloomberg.
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