BusinessNZ/BNZ data, this the February manufacturing PMI for NZ

53.7 (second highest for the last nine months)

  • prior was 53.0, revised from 53.1

Main sub-index values

  • production (53.9) , new orders (54.7) both up after a noticeable drop in expansion levels during January
  • employment (50.8) down a further 1.2, now at its lowest level since August 2018

BNZ Senior Economist, Craig Ebert:

  • "While the PMI remains broadly encouraging, inventory dynamics bear watching - in case they forewarn of a slower tone to manufacturing production ahead."

NZD up a few tics on the data release.

BusinessNZ/BNZ data, February manufacturing PMI for NZ