NZ: Manufacturing PMI in September unchanged – TD Securities

Analysts at TD Securities note that New Zealand’s Manufacturing PMI in September remained unchanged in August - at 48.4.

Key Quotes

“3 of the 5 sub-indices fell further under 50, with production dropping 3 points to 46.2, deliveries dropping 1.5 points to 46.4 and finished stocks dropping 4 points to 48.8. One positive sign was new orders which rose 4.2 points to 50.1 from 45.9 in August.”

“Card spending in September rose 0.6% as compared to a 1.3% rise in August. Retail card spending rose 0.4% m/m beating market estimates of a 0.2% rise.”