This had been a wee bit weak in the past few months, but not into contraction

A bounce for it in October to 53.5

  • Sep result revised up to 51.9

The longer run MA for this is around 53.4, so the result today is indicative of an improvement in sentiment amongst NZ manufacturers.

  • 4 of the 5 sub indexes rose
  • new orders to its highest for 6 months (employment also)