The RatingDog PMI data follows official and their manufacturing PMIs earlier this week: The NZ Q3 labour market data is due at 10:45am New Zealand time. Forecasts range from 5.4% to 5.6%. The June quarter’s 5.6% was the highest since September 2015. Westpac expects employment to rise 0.5% and the rate to slip to 5.5%. ANZ expects employment up 0.3% and the rate unchanged at 5.6%. ANZ’s flat call rests on a rise in labour force participation absorbing the job gains. The RBNZ’s September forecast was 5.5%. Wage growth is expected to stay modest. Private-sector labour cost growth is forecast at around 2.1%, which economists describe as near a four-year low. The RBNZ surprised markets on October 28 by holding the OCR at 2.
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