Nick Nasad
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Another Strong Macro Report from New Zealand - Manufacturing Index at 59.5

A day after posting strong retail sales data, the New Zealand manufacturing sector posts a PMI of 59.5 for July, 4.3 points higher than the level in June.

The chart above shows that the trend here is certainly a positive one, and it will likely put more pressure on the RBNZ to consider raising interest rates - something the RBNZ seems loathe to do because it will strengthen the Kiwi. However, as more data comes in showing an economy that is strengthening, the ability to put off a rate hike will diminish. Something to consider as we move forward.

- Nick