Quakes Trigger New Zealand Recession

    Sarah Ivey / AP Photo

    After a devastating earthquake struck the city of Christchurch several weeks ago, the government has predicted that the damage it wrought—combined with the damage from a previous quake in September—will almost halve New Zealand's economic growth in 2011. Both disasters could send New Zealand into a recession, which is defined as consecutive quarters of economic decline (the Treasury expects the quakes to slow economic growth by 1.5 percent to 2 percent for the calendar year). Police announced on Sunday that the death toll had reached 166, and the final toll is expected to exceed 200.

    Read it at the Associated Press