New Zealand's overall wellbeing has held up well during the COVID-19 pandemic. Our mortality rate remains lower than those of our international peers, and life satisfaction remains high across all ethnicities. While the economic contraction associated with COVID-19 was much deeper and much more sudden than what New Zealand experienced during the global financial crisis, the economy has proven to be resilient, with economic activity in the December 2021 quarter 3.5 percent ahead of pre-pandemic levels.