NZ: Q3 annual current account deficit widened to 3.6% of GDP - ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ point out that New Zealand’s annual current account deficit widened in Q3 to 3.6% of GDP, around its historical average, owing largely to base effects.

Key Quotes

“Seasonal factors drove the widening quarterly deficit. Seasonally adjusted, narrowing goods and income deficits were offset by a smaller services surplus.”

“New Zealand’s net international liability position rose 0.1%pt to 53.7% of GDP.”

“There are no obvious implications from today’s data for tomorrow’s real GDP figures.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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