New Zealand Manufacturing PMI (May) still in contraction at 48.9 (prior 48.8) | Forexlive

BusinessNZ Performance of Manufacturing Index (PMI) is still well under its longer run average of 53.0

BusinessNZ’s Director, Advocacy Catherine Beard:

• New Zealand’s manufacturing sector has remained in a relatively tight band of contraction for the last three months. … Beyond seasonal factors such as weather, comments tended to concentrate on slowing orders/deteriorating demand and lower sales levels.

BNZ Senior Economist, Craig Ebert:

• the range of results in the sub-components is mirrored in the breadth of issues manufacturers are now highlighting in the survey. Gone is the dominance of supply-side laments, especially regarding staff. But new negatives have arisen, for all of them to (still be) outnumbering the positive issues referenced