BNZ – BusinessNZ Performance of Manufacturing Index (PMI) from March 2024 comes in at 47.1
- from 49.1 in February
- 47.1 is the lowest since December 2023
- has now been in contraction for 13 consecutive months, the longest since 2009
BNZ’s Senior Economist Doug Steel:
- “the PMI’s average for the first quarter of the year is consistent with manufacturing GDP posting another quarter that is below that of a year earlier”
