New Zealand - Business NZ manufacturing PMI for April: 51.8 (prior was 54.6)

Business NZ manufacturing Purchasing Managers' Index (PMI) for April, 51.8

• prior was 54.6, revised from 54.5

New Zealand's manufacturing sector has now been in expansion for 31 consecutive months

BusinessNZ's executive director for manufacturing Catherine Beard:

• "Although the proportion of negative comments for April (43%) did not increase by a significant proportion from March, there was a distinct pattern of respondents mentioning the current economic situation across the ditch. Some outlined the high value of the New Zealand dollar relative to the Australian, while others mentioned the general lacklustre Australian economy causing lower demand for New Zealand products."

If you're not from this way "the ditch" refers to the sea separating Australia from New Zealand. Beard is in New Zealand, so when she says "across the ditch" she is referring to Australia. New Zealanders have other ways of referring to Australia & Australians, this is one of the more polite terms.

BNZ senior economist Doug Steel:

• "While the New Zealand dollar was high against the Australian dollar in April it has retreated rather rapidly in May. This, if sustained, should lend support to the PMI over coming months."