FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, lists down today’s releases as far as New Zealand economy is concerned. Key Quotes “The PSI for October was 56.2, 2.8 points lower than Sep but given the index for Sep was the highest since Nov 2007, a slowing in the expansion was no surprise. Key indicators of activity/sales (57.6) and new orders/business (57.1) remain firm. The PSI and PMI data taken together suggest the NZ economy has begun Q4 at a solid pace.” “Sep Qtr retail sales rose 1.6% in volume terms, above market expectations for a 1.4% rise and TD’s +1.5%/qtr f/c. Today’s market beat was thanks to a 5% lift in motor vehicle sales, that took annual sales up 5.7%. The numbers are quite good given how much attention was paid to weak dairy prices. Overall there is upside risk to our +0.8%/qtr f/c for Q3 NZ GDP forecast out on 17 Dec.” “Fonterra announced it is increasing its forecast earnings per share, lifting the total forecast cash payout to $4.95-5/kgMS. Fonterra’s performance is well up on last year thanks to Business transformation initiatives giving it room to lift its forecast payout.” For more information, read our latest forex news.