Manufacturing data point to better-than-expected economic growth

Mon, 09 Dec 2019

Stronger-than-expected manufacturing volumes – excluding meat and dairy sales – mean the economy may have grown more in the third quarter than the 0.3 percent forecast by the central bank. The manufacturing survey is the final tranche of second-tier data economists use to firm up their forecasts for third quarter gross domestic product. ASB Bank senior economist Jane Turner said the manufacturing volumes – excluding meat and dairy sales – were “surprisingly strong.” As a result, she has lifted her preliminary third-quarter GDP forecast to...

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