NZ's monster May trade surplus confirmed
Thursday 8 July 2004
Statistics New Zealand today trimmed just $2 million off a surprise monster May trade surplus that was foreshadowed in preliminary figures released last month.
By The LandlordFollowing the receipt of export data, the department said the surplus was $654m compared with the early estimate of $656m.
Economists had predicted a surplus of just $91m.
A whopping increase in the value of goods exported during May was the principal reason for the month's trade balance soaring to the biggest one month surplus since May 2001.
Exports jumped in May to $3.37 billion from $2.69b in April and $2.76b in May 2003.
Read More - Opens in a new window
Commenting is closed
Housing confidence has been dealt a hefty blow by the Covid-19 crisis with house price expectations plummeting to new lows.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.