NZ terms of trade falls 3.7% in third quarter as petrol drives fastest gain in import prices in for 7 years

Mon, 30 Nov 2015

By Jonathan Underhill Dec. 1 (BusinessDesk) - New Zealand's terms of trade fell more than expected in the third quarter as petroleum products drove up import prices, outpacing a gain in export prices that was led by meat. The merchandise terms of trade fell 3.7 percent in the third quarter, following a gain of 1.5 percent three months earlier, Statistics New Zealand said. A decline of 2.8 percent was expected for the third quarter, according to a Reuters poll. The terms of trade is a measure of the purchasing power of New Zealand's export...

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