NZ current account deficit narrows slightly

New Zealand’s annual current account deficit narrowed slightly from a three-year high in the September quarter as foreigners earned less on their investments, but the gap is expected to widen again in coming quarters as the trade surplus falls.

The deficit for the year to Sept 30 was NZ$9.89 billion (US$8.3 billion), equating to 4.7 per cent of gross domestic product (GDP), against market expectations of 4.8 per cent of GDP, data showed on Wednesday.

That compared with a downwardly revised deficit of 4.8 per cent of GDP in the previous quarter.

via Business feed http://www.scmp.com/business/economy/article/1108092/nz-current-account-deficit-narrows-slightly