Analysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on New Zealand’s Q2 Current Account data released earlier on Wednesday.
“The annual current account deficit narrowed from an upwardly revised $10.8bn in Q1 to $10.2bn in Q2 (or in ratio terms, by 0.2%pts from 3.6% of GDP to 3.4%).
In seasonally adjusted terms, the current account deficit narrowed $0.1bn from Q1, led by a narrowing goods deficit, with exports posting a decent lift.
New Zealand’s net international liability position widened $2bn from Q1 to $165.9bn, but was broadly stable as a share of GDP at 55.3%.”
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