NZ deficit narrowed to 0.8% of GDP

Wed, 16 Dec 2020

New Zealand's current account deficit narrowed to 0.8 percent of GDP in the year ended September from 3.7 percent the previous year, according to Stats NZ.That reflected a seasonally adjusted $400 million deficit in the September quarter, a turnaround from the record $600 million surplus in the June quarter. The annual deficit narrowed to $2.6 billion from $11.7 billion the previous year.Typically, a country's annual current account deficit isn't seen as a problem unless it's larger than 5 percent of GDP.The quarterly turnaround...

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