NZD News

New Zealand posted a merchandise trade deficit of NZ$472 million in August, Statistics New Zealand said on Wednesday - representing 13 percent of exports.

That beat forecasts for a deficit of NZ$1.125 billion following the downwardly revised NZ$724 billion shortfall in July (originally NZ$692 million).

Exports were worth NZ$3.52 billion, topping expectations for NZ$3.20 billion and down from NZ$3.69 billion.

Live animals led the rise in exports, due to live cattle. Milk powder, butter, and cheese exports also contributed to the increase, led by higher quantities. The 16-percent rise in milk powder, butter, and cheese was led by milk fat and cheese.

"Cattle, milk fat, and cheese contributed to the rise in exports," international statistics manager Jason Attewell said. "It is the first time in three years that a rise in dairy was not led by milk powder."

NZDUSD M5 : 22 pips price movement by NZD - Trade Balance news event :

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Reserve Bank of New Zealand Governor Graeme Wheeler said the exchange rate of the New Zealand dollar is unjustified and unsustainable, and he warned that it is susceptible to a significant downward adjustment.

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The total number of building permits issued in New Zealand was roughly flat in August, Statistics New Zealand said on Tuesday - coming in at 2,022.

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New Zealand's house prices rose at a slower rate in September, data from Quotable Value, QV, showed Monday.

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Retail credit card spending was down a seasonally adjusted 0.1 percent on month in September, Statistics New Zealand said on Thursday.

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Food prices in New Zealand were down 0.8 percent on month in September, Statistics New Zealand said on Monday - following the 0.3 percent gain in August.

Fruit and vegetable prices fell 6.5 percent on month. Lower vegetable prices (down 11 percent) were the most significant contributor to the monthly fall in food prices, the bureau said, with price falls for lettuce, tomatoes, cucumber, and capsicums.

On a yearly basis, food prices eased 0.1 percent after climbing 0.7 percent in the previous month.


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New Zealand job ads increased at a faster rate in September, the results of a survey by ANZ showed Thursday.

Total job ads rose a seasonally adjusted 2.4 percent month-over-month in September following the 1.7 percent growth in August.

Internet ads climbed 3.1 percent in September after the 1.3 percent rise in August.

Meanwhile, newspaper ads fell 2.6 percent following the 4.4 percent rebound in the previous month.

On a year-over-year basis, total job ads surged 13 percent in September, which was faster than the 11.9 percent rise in August.


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New Zealand's services sector continued to expand at an accelerated pace in September, the latest survey from Business New Zealand revealed on Monday - with a PMI score of 58.0.

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New Zealand posted a merchandise trade deficit of NZ$1.350 billion in September, Statistics New Zealand said on Friday - or 37 percent of the total value of exports.

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House prices in New Zealand rose at the slowest rate in two years in October, property valuer Quitable Value, or QV, said on Thursday.

The QV residential property index increased 5.9 percent year-over-year in October following the 6.4 percent growth in September.

This was the weakest rise in prices since October 2012.

"Home loan approval rates have not increased, listings are also lower than normal for spring and sales are around 12 percent below that they were this time last year," Andrea Rush, a QV spokeswoman, said in a statement.

"Banks are now offering competitive interest rates following a halt in any further hikes being signalled by the Reserve Bank. However, the LVR restrictions mean banks are targeting well established customers rather than new lenders."


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