The double dip recession is an idea that's been floated regarding the GFC.
NZ has just had a negative quarter. Don't know if that means much on the grand scale of things, but suspect that at least the #'s seem to be honest here.
An influential survey of business opinion shows the economy contracted in the September quarter after stalling in June.
After contracting 4 per cent in the June Quarterly Survey of Business Opinion, firms' experienced activity fell a further 15 per cent in the September survey.
Seasonally adjusted business confidence fell from a net 26 per cent of respondents positive in June to 9 per cent net pessimistic in September, the first such negative in a year.