It's official- New Zealand has entered a 'technical recession'.

Newly released figures from Stats NZ show the GDP fell 0.1 percentage points from last quarter, following a drop in the December quarter.

Finance Minister Grant Robertson says the destruction from the Auckland floods and Cyclone Gabrielle were chief contributors.

ZB's senior political correspondent Barry Soper says New Zealand's experienced recessions before and the Government has had to contend with recent natural disasters.

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• NZ Herald Business Editor discusses NZ entering a technical recession, what it means for Kiwis
• Recession, no great escape: GDP data confirms recession hit