New Zealand data –

BusinessNZ manufacturing PMI for November, 55.2

  • prior was 58.9, revised from 59.3
bnz pmi

Comments from BusinessNZ’s executive director for manufacturing Catherine Beard:

  • Although the level of expansion was not as strong as the previous month, activity was still healthy and positive across all of the sub-indices recorded
  • “Comments from respondents remained far more positive than negative, with pre-Christmas activity and obtaining new customers being the most regular comments”

And, from BNZ senior economist Craig Ebert:

  • New Zealand’s Q3 manufacturing sales and inventory data has us judging a nice bounce in the industry’s output, after a bit of a flat patch over Q1/Q2. This profile certainly aligns with the strong pick-up we’ve seen in the monthly PMI since around mid-year.”