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)