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NZ: Manufacturing sector continues on expansion trajectory - TDS

FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that the NZ’s manufacturing sector continues to expand, the PMI at 53.3, but the expansion was slower than seen in September.

Key Quotes

“Although the production and new orders indices dropped on the month (but still are above 50 signalling expansion) the proportion of positive comments picked up from Sep mainly in relation to offshore orders and new customers. Of note was the decline in inventories even with new orders remaining above average - this most likely signals more production ahead.”

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