BusinessNZ Performance of Manufacturing Index (PMI):
From the report:
- Labour shortages, decreased demand and cost pressures were the main flavour of comments made by manufacturers.
BNZ Senior Economist, Doug Steel
- the overall trend remains positive, but with ongoing volatility around it
- the 52.0 monthly reading is now back below the PMI’s longer-term norm
The 'new orders' sub index fell into contraction for the second time in 13 months:
NZD/USD is little changed, the PMI tends not to have much of an impact upon release. . It was swung around with everything else after the US CPI data on Thursday.
