Economic calendar in Asia Friday, 10 November 2023: RBA’s Statement on Monetary PolicyEconomic calendar in Asia Friday, 10 November 2023: RBA's Statement on Monetary Policy
2023-11-09 | NDAQ:OMQS | Press Release2023-11-09 | NDAQ:OMQS | Press Release

BNZ – BusinessNZ Performance of Manufacturing Index (PSI), AKA the New Zealand Manufacturing PMI.

For October 2023, comes in at 42.5, down from September’s 45.3.

This is apoor report indeed. NZD/USD is dribbling a little lower, circa 0.5895 or so. It fell alongside nearlet all other ‘risk’ after the US session – a poor bond auction and then Powell gave everything a kick too.

BNZ Senior Economist, Doug Steel:

  • “today’s PMI is not a good look for GDP and employment growth. Our GDP forecasts already include a decline in the manufacturing sector in the second half of 2023. There’s a chance that decline is bigger than we think, if the PMI does not bounce in the final months of the year”.

Source link

About the Author: Editorial team of BIPNs

Main team of content of Any type of content should be approved by us.

Share your opinion. And leave a reply within the comments from below.

All Crypto Coins here »