New Zealand - BusinessNZ manufacturing PMI for September 54.0 (previous: 50.7)
BusinessNZ's executive director for manufacturing Catherine Beard:
- boost in activity post the Auckland lockdown was not a surprise
- "All but one of the key sub-indices improved in September, including Employment (51.6), which showed expansion for the first time since February".
BNZ Senior Economist, Doug Steel
- “although the September PMI pushed above its long-term average of 53.0, it should not be confused with above average activity levels. Rather, it indicates growth off the low base set earlier in the year. Growth has not yet been enough to recoup previous loses, but some progress is being made".