NZ trade balance data for August from Statistics New Zealand
-1265 m ..... MISS
- expected -735m, prior -433m
Exports 3.39bn
- expected 3.6bn, prior 3.96bn
- Down 8.7% y/y
Imports 4.65bn
- expected 4.30bn, prior 4.4bn
More details from the Stats NZ release:
- Milk powder exports fellto the lowest level since August 2009
- All top destinations of milk powder fell in value and quantity, with both China and the United Arab Emirates seeing a drop in value of over half
- The fall in meat exports is partly due to a record high meat season this time last year
- "The large fall in export value this month comes off the back of high export volumes in the June quarter," international statistics senior manager Stuart Jones said
NZD is a touch lower, sitting around session lows just under 0.7230
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Earlier today from NZ - Westpac-McDermott Miller employee confidence index for Q3
At 110.1 in the three months to September
- Prior quarter was 101.5
(>100 indicates more optimists than pessimists)
