Manufacturing sentiment stabilises after 'big wobble'

Wed, 14 Nov 2012

Nov 15 (BusinessDesk) - Bank of New Zealand economists are drawing solace from a move back into positive territory for its closely watched Performance of Manufacturing Index, which was one of the few leading indicators to foreshadow the sharp rise in September quarter unemployment. Published in conjunction with lobby group Business New Zealand, the PMI clocked in at 50.5 in October, an improvement of two points in September. A score above 50 indicates expansion, while a figure below 50 indicates contraction in activity. The index fell sharpl...

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