BusinessNZ / BNZ September Manufacturing PMI remains in deep contraction.

New orders fell to 44.9 from 46.6 in the prior month

Bank of New Zealand senior economist Doug Steel:

  • "It is always difficult to know the precise drivers of any particular PMI result but judging by respondent comments falling sales, rising costs, and election uncertainty are currently all part of the mix"

The New Zealand election is this weekend, Saturday the 14th October. Polling is strongly suggestive of a change of government from Labour to the Nationals (not Labour).

The trend in central banking

Auckland, New Zealand