NZ data, trade figures for November and Q3
Trade balance, a deficit of 1.193bn NZD, much larger than the expected deficit
- expected -550m, prior was -871m
Exports, 4.63bn NZD
- expected NZD 4.61bn, prior was 4.56bn
Imports, 5.82bn NZD
- expected 5.10bn, prior was 5.43bn
BoP current account balance for Q3
-4.679bn NZD
- expected -4.2bn, prior -514m
Q3 Current account / GDP ratio YTD -2.6%
- expected -2.5%
- prior -2.7%
The NZD has tumbled on the data - the deficit for November is more than twice was expected, not a good result at all. Note the huge surge in imports. I haven't seen the detail yet, but this is often a sign of a well-performing economy. After the knee-jerk lower for the NZD the bids should come back.
more to come
