New Zealand data, the BNZ – BusinessNZ Performance of Manufacturing Index (PMI) long-run average is around 53.
March drops to 48.1
- prior 52.0
Commentary from the report:
- BusinessNZ’s Director, Advocacy Catherine Beard said that the numbers behind the main March result showed the manufacturing sector facing some stiff headwinds ahead.
- BNZ Senior Economist, Craig Ebert stated that “disappointing as New Zealand’s March PMI was, it wasn’t especially negative in longer-term context. Neither was it much out of line with manufacturing readings across the world of late”.
