New Zealand – BusinessNZ manufacturing PMI for October 54.3 (prior 51.4)

New Zealand data – lockdown impacted. 

BusinessNZ’s Catherine Beard:

  • “The key sub-indices of Production (54.0) and New Orders (53.9) were both in positive territory for the first time since July.  Like the last national lockdown, Deliveries (59.9) led the way towards catching up on activity, although Employment (52.1) fell back to its lowest result since February.”
  • “In addition, the proportion of negative comments from respondents dropped to 55.4% for October, compared with 71% in September and 78% in August.”

BNZ’s Doug Steel

  • “even though October’s reading is above average, we’d classify it more in the realm of some recovery from a large hit rather than an indication of outright strength.”
BusinessNZ manufacturing PMI for October 

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