New Zealand - BusinessNZ manufacturing PMI for December: 48.7 (prior 55.3)
BusinessNZ manufacturing PMI for December drops into contraction.
the lowest level of activity since May 2020
follows 6 consecutive months in expansion
- PMI’s three-month moving average sits at an expansionary 51.8, albeit below its long-term average of 53.0
- suggests some expansion in the final quarter of last year, but the softer December month suggests some caution heading into the New Year
Stay tuned for ...
Inflation data from New Zealand for Q4
- CPI expected 0.2% q/q, prior 0.7%
- CPI expected 1.1% y/y, prior 1.4%