NZ first-quarter current account turns to surplus as tourism stays strong

Tue, 19 Jun 2018

By Rebecca Howard June 20 (BusinessDesk) - New Zealand's current-account turned to a surplus in the first quarter, bolstered by the services balance as tourism remained strong. The unadjusted surplus was $182 million in the three months to March 31 versus a revised fourth-quarter deficit of $2.75 billion, Statistics New Zealand said. Economists polled by Bloomberg predicted a first-quarter current account surplus of $50 million. In seasonally adjusted terms, however, the current account deficit was $3.1 billion in the March quarter ve...

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