Lumpy imports drive bigger July trade deficit than expected

Mon, 26 Aug 2019

By Rebecca Howard Aug. 26 (BusinessDesk) - New Zealand posted a much wider trade deficit than expected of $685 million in July but economists aren't fazed, saying it was skewed by lumpy imports. Economists polled by Bloomberg had expected a monthly deficit of $254 million and an annual deficit of $5 billion. The annual deficit came in at $5.5 billion. "Don’t fret about the much bigger than anticipated merchandise trade deficit reported for July. It was enlarged principally by greater than expected imports, in turn, partly because of ai...

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