HomeLive CommentsNew Zealand terms of trade dropped -3%, largest fall since 2015

New Zealand terms of trade dropped -3%, largest fall since 2015

ActionForex
By ActionForex

New Zealand terms of trade index dropped -3.0% qoq in Q4, much worse than expectation of -1.0% qoq. It’s also the largest decline since September 2015 quarter. Also ,falling global prices for milk powder and butter meant overall export prices dropped -1.7%. However, Stats NZ noted that “despite the latest fall, the terms of trade remained near the historic high in the December 2017 quarter.”

Full release here.

Also from New Zealand, building permits rose 16.5% mom in January.

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