BusinessNZ manufacturing PMI for May comes in at a lower 52.7
- prior was 54.2, revised down from 55.2
- Despite the fall, this is the 20th consecutive month in expansion territory for the NZ manufacturing PMI
- BusinessNZ’s executive director for manufacturing Catherine Beard said that the lower level of expansion for May was mainly due to new orders coming down from recent strong levels.
- new orders were at their lowest level since December 2012
- “Looking ahead, the fundamentals of both the PMI and other indicators of the economy still point to positive activity.”
