NZ Sept quarter current account deficit near six-year high

Tue, 16 Dec 2014

By Pattrick Smellie Dec. 17 (BusinessDesk) - The impact of falling dairy export receipts was a primary contributor to the balance of payments deficit on current account pushing out to $2.5 billion in the three months to Sept. 30, the highest since the December 2008 quarter, according to Statistics New Zealand. On an annual basis, the current account deficit weighed in at $6.1 billion, or 2.6 percent of gross domestic product, still low by historical standards but consistent with expectations that the balance between what New Zealand recei...

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