New Zealand manufacturing PMI from BusinessNZ
Comes in at 53.5
- the prior has been revised up to 53.7
Which is a bit of a bummer 'cause now we can all say its collapsing! LOL
OK, its not, but it is down a touch from October thanks to that revision. The PMI is up from July 2018 low of 51.3, and sits near its longer run average (53.4).
A highlight of today's result is the 'new orders' sub measure, coming in at 56.3 and a positive sign for manufacturing output ahead.A lowlight, on the other hand, is the production measure, in at a slow 51.5.
Yesterday the NZ government revised their their GDP forecast a little lower. To a still relatively robust 2.9%.
