October’s NZ Manufacturing PMI Surges

New Zealand’s key sub-indices of production; namely Purchasing Managers’ Index (PMI) for the manufacturing sector (rose to 54.0) from prior reading at 51.4 and New Orders (53.9) were both in positive territory for the first time since July.

Deliveries (59.9) led the way towards catching up on the economic activity, although employment (52.1) fell back to its lowest result since February.

The proportion of negative comments from respondents dropped to 55.4% for October, compared with 71% in September and 78% in August.