NZ: Q3 annual current account deficit widened to 3.6% of GDP - ANZ

Analysts at ANZ point out that New Zealand’s annual current account deficit widened in Q3 to 3.6% of GDP, around its historical average, owing largely to base effects.

Key Quotes

“Seasonal factors drove the widening quarterly deficit. Seasonally adjusted, narrowing goods and income deficits were offset by a smaller services surplus.”

“New Zealand’s net international liability position rose 0.1%pt to 53.7% of GDP.”

“There are no obvious implications from today’s data for tomorrow’s real GDP figures.”