The Northern Territory economy has shrunk by one per cent in the June quarter, while the national economy grew, according to ABS data, which comes at the same time Darwin recorded the highest cost of living increase in the country.

The ABS data show the Territory experienced its second straight quarter of negative state final demand – the total value of goods and services exchanged within a jurisdiction. The Opposition labelled it a “technical recession” based on the economy “going backwards” for the last two quarters.

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