And ... https://www.newshub.co.nz/home/money/2020/09/coronavirus-how-new-zealand-s-recession-compares-to-the-rest-of-the-world.html
How did New Zealand do?
Professor Ilan Noy, chair in the Economics of Disasters and Climate Change at the Victoria University of Wellington said New Zealand's GDP fall of 12.2 percent was expected.
"This is not really news to anyone; practically every country around the world (maybe with the exception of China) has experienced a deep recession in Q2 2020. The news is the amount of decline (for us 12 percent)."
Head of the school of economics and finance at Massey University professor Martin Berka agreed.
"The fall in GDP is within the range of economic forecasts and reflects, amongst other things, the strength of New Zealand’s economic restrictions during level 4 and 3 lockdowns that lasted much of the second quarter.
"Although the relationship between economic cost and COVID-19 outcomes is nonlinear (having no restrictions and having maximum restrictions both achieve negative economic outcomes), New Zealand clearly opted to go for the more hardline approach regarding COVID-19 health outcomes, and on the margin, this resulted in worse economic outcomes relative to similarly-well-organized countries that chose a lesser degree of economic restrictions (such as Germany, South Korea, the Netherlands, Taiwan, etc.)."
He said ultimately the decision for New Zealand to go into lockdown was a societal choice made by the Government.
Prof Noy said New Zealand now needs to look towards the future and recovery.
"The important question is the recovery in Q3, and I think that we are well placed to see a stronger recovery in Q3 than elsewhere. So, this should not be a gloom and doom story, but rather one that points out that what happens next is what matters.
"Since this is a self-imposed recession, and we have done many of the right things to keep the economy on a lifeline during lockdown, the questions that should be asked are around whether we are doing the right things to recover in Q3 (and Q4, since Q3 is almost over already).”
Other notable changes for countries GDP for the second quarter of 2020 according to OECD Stats include:
Austria -10.7 percent
Belgium -12.1 percent (provisional)
Canada -11.5 percent
Chile -13.2 percent
Columbia - 14.9 percent
The Czech Republic -8.7 percent
Denmark -6.9 percent
Estonia -5.6 percent
Finland -4.5 percent
France -13.8 percent
Germany -9.7 percent (provisional)
Greece -14 percent (provisional)
Iceland -9.1 percent
Japan -7.9 percent
Mexico -17.1 percent
Romania - 12.3 percent
Russia -3.2 percent
Spain - 18.5 percent
South Africa -16.4 percent
China +11.5 percent
=> It is perhaps too early to say who's got it right and who hasn't.