BusinessNZ manufacturing PMI for January: 51.6 (prior 54.5)

Author: Eamonn Sheridan | Category: News

BNZ - BusinessNZ Performance of Manufacturing Index.

The prior is revised to 54.2

BusinessNZ's executive director for manufacturing Catherine Beard:
  • Decrease in expansion for the first month of 2017 was not ideal, it was clear from comments that a number of factors played a part
  • "Those who outlined negative comments noted the Xmas/holiday break playing a sizeable role in reduced activity, as did weather conditions.  On the flip side, those who outlined positive comments often did not note anything specific, but more business as usual"
  • "Combined, this meant that the proportion of positive comments dropped from 70% in December to 59.5% in January"
BNZ Senior Economist, Craig Ebert
  • "the slowdown in expansion was mainly because of a marked slowdown in its production index, which dampens expectations of a big bounce in the PMI over the short term".