NZ data: Q2 terms of trade down 2.1% q/q

Q2 terms of trade was expectd to fall 1.5%
– And the previous was +4.4%
So, at a 2.1% fall that’s a miss and well under the prior result

– Export volumes +10.2% q/q (seasonally adjusted), at their highest levels since the series began in 1990.
Commentary from Stats NZ: