NZ balance of payments deficit hits cyclical low point

Tue, 16 Sep 2014

By Pattrick Smellie Sept. 17 (BusinessDesk) - The annual deficit in New Zealand’s dealings with the rest of the world fell, in line with consensus forecasts, to 2.5 percent of gross domestic product in the year to June 30, hitting what economists expect will prove to be a cyclical lowpoint. Falling prices for key export commodities, especially dairy products, and a weaker New Zealand dollar are expected to see the balance on the current account rise in future quarters from the lowest annual out-turn since the year to December 2010, when a...

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