NZ Treasury: Annual trade deficit narrows and terms of trade improve

New Zealand’s Treasury is out with its monthly economic indicators report, with the key highlights found below.

The Government released its first Wellbeing Budget.

Retail sales maintained momentum in the March quarter.

Annual trade deficit narrows and terms of trade improve.

Trade tensions escalate and weigh on global economic activity.

RBNZ and Reserve Bank of Australia ease monetary policy.

Building consents have fallen back over the past two months, but remain at historically high levels.

Business confidence lifted slightly in May.

Consumer confidence fell slightly in May.

The annual trade deficit narrowed slightly in April.