NZ's external imbalances look contained - economists

NZ's external imbalances look contained - economists
Rebecca Howard
Economists said New Zealand’s external imbalances look to be contained despite the nation's slowing economic growth. The annual current account deficit was $10.3 billion in the September quarter, or 3.3 percent of gross domestic product. The deficit was $10.6 billion a year earlier, or 3.6 percent of GDP, Stats NZ figures show. Economists polled by Bloomberg had expected it to be 3.4 percent of GDP.ANZ Bank economist Michael Callaghan noted the current account deficit as a share of GDP was slightly below the historical average.“Considering...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
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Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024