NZ: Q1 current account deficit was -2.7% - TDS

Analysts at TDS note that New Zealand’s Q1 current account deficit was -2.7%, slightly off a notch from our forecast (mkt -2.6% of GDP).

Key Quotes

“Primary income deficit widened, amid increased outflow as income earned by foreign investors increased. However, we saw that goods deficit narrowed, since rising exports significantly offset aircraft purchases.”