NZ turns to current account deficit in second quarter, annual gap at 3.5% of GDP after revisions

Tue, 15 Sep 2015

By Jonathan Underhill Sept. 16 (BusinessDesk) – New Zealand turned to a current-account deficit in the second quarter as the country earned less from the export of travel services, such as tourist spending, while revisions to the annual measure reduced the gap as a percentage of gross domestic product. The current-account deficit was $1.2 billion in the three months ended June 30, from a revised surplus of $821 million a year earlier, Statistics New Zealand said. The annual deficit was $8.3 billion, or 3.5 percent of GDP, from a revised g...

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