New Zealand Manufacturing PMI Fades To 54.9 In October - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in October, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 54.9.
That's down from 56.3 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, production (53.9), employment (51.9), new orders (54.3), finished stocks (58.0) and deliveries (61.4) all expanded.
"Although the PMI can be volatile month to month, the broader message is clear: momentum in manufacturing is firmly positive," BNZ Senior Economist Doug Steel said.
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