CORRECT: NZ current account turns to deficit as drop in services offsets export pickup

Tue, 13 Sep 2016

(Corrects first-quarter goods balance to millions in fifth paragraph) By Jonathan Underhill Sept. 14 (BusinessDesk) - New Zealand’s current account balance turned to a deficit in the second quarter as a drop in services more than offset a pickup in exports. The deficit was $945 million in the three months ended June 30, from a revised first-quarter surplus of $1.18 billion, Statistics New Zealand said. The annual deficit was $7.4 billion, or 2.9 percent of gross domestic product, from a revised deficit of $7.8 billion, or 3.1 percent,...

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