NZ deficit narrowed to 0.8% of GDP

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...