NZ current account gap widens to record

The annual deficit widened to NZ$14.97 billion in the June quarter, from a revised NZ$14.21 billion in the previous three months, Statistics New Zealand said. A deficit of NZ$14.1 billion was expected, according to a Reuters survey.

Economists estimated the current account cap amounted to 8.3% of gross domestic product, widening from 7.8%. Economic growth figures are scheduled for release on Sept. 25 and are expected to confirm the economy fell into recession in the first half of the year. The economy probably contracted 0.6% last quarter, economists estimate.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming