New Zealand Q2 Balance of Payments: Pretty average – ANZ

Analysts at Australia and New Zealand Banking Group (ANZ) offer their afterthoughts on New Zealand’s Q2 Current Account data released earlier on Wednesday.

Key Quotes:

“The annual current account deficit narrowed from an upwardly revised $10.8bn in Q1 to $10.2bn in Q2 (or in ratio terms, by 0.2%pts from 3.6% of GDP to 3.4%).

In seasonally adjusted terms, the current account deficit narrowed $0.1bn from Q1, led by a narrowing goods deficit, with exports posting a decent lift.

New Zealand’s net international liability position widened $2bn from Q1 to $165.9bn, but was broadly stable as a share of GDP at 55.3%.”