Liam Dann: NZ Herald Business Editor says if the next quarter is also negative, we could already be in a technical recession

The economy has contracted slightly more than predicted by economists and the banks. Latest GDP figures from Stats NZ show a 0.6 percent decline in the three months to December and compares to a two percent increase in the three months to September. Herald Business Editor Liam Dann told Francesca Rudkin if the next quarter is also negative, we could already be in a technical recession. He says economists often say the "on the street definition" of a recession is people losing jobs, but most people's jobs are still secure. LISTEN ABOVE  See omnystudio.com/listener for privacy information.