Headline trade balance, comes in at -113m for a miss on estimates
- expected 200m surplus, prior surplus 208m revised from 294m surplus
Exports NZD 4.91bn a miss
- expected 5.06bn, prior 5.35bn revised from 5.42bn
Imports NZD 5.02bn higher than expected
- expected 4.92 bn, prior 5.15bn revised from 5.12bn
The 12 months to date trade balance is a deficit of 4031M
A disappointment on exports. On the face of the imports result though the NZ economy is still performing well. NZD/USD has dropped a few points on the release but ther reactions is small only.
