New Zealand’s trade deficit hit an all-time high in September. Imports rose 2% on aircraft deliveries, while exports dropped for a third straight month by 6%. Exports to the U.S. slumped 19%, which may include the effect of lower lumber exports to the U.S, Panjiva data shows. One bright spot is China – exports increased 14%, the 14th rise out of 16 months with milk and meat products doing well. These may suffer though as a Chinese milk producer looks to increase exports from competitor Australia.