NZ data, a jump back into expansion for the manufacturing PMI.
52.6 in Oct.
- prior revised up to 48.8
In expansion for the first time since June and its highest since April this year.
BusinessNZ:
- "The sub-index of new orders (56.2) continued its recovery to record its highest value since May 2018, while production (52.6) produced its highest result since February 2019. Employment (50.2) was all but unchanged from the previous month, while finished stocks (48.5) was the only sub-index to remain in contraction for October, as well as at its lowest level since February 2014."
BNZ
- "the October PMI is hardly what you would call strong. But it is certainly much better than the previous three months where the index languished below 50 which indicated a sector going backwards"
NZD likes the number, up a little:
