NZ data for manufacturing in the third quarter of 2018

Manufacturing volumes down 1.6% q/q

  • prior -1.2%

Manufacturing sales +2.0%

  • prior +1.8% q/q

More:

  • 7 out of 13 industries show declining manuf voilumes
  • declining dairy volumes lead the falls (have fallen 3 times in the past 4 quarters)

Not too much of an immediate NZD impact from this.

Later this week in NZ we get the half year fiscal and economic update (Thursday) and also RBNZ governor Orr speaking (Tuesday)