New Zealand - BusinessNZ manufacturing PMI for June: 60.7 (prior 58.6)

Author: Eamonn Sheridan | Category: News

New Zealand - BusinessNZ manufacturing PMI for June comes in very hot at 60.7 

  • expected 55.8
  • prior 58.6 
BusinessNZ's executive director for manufacturing Catherine Beard:
  • "Despite the overall pick-up in activity, the proportion of negative comments (53.1%) remained higher than positive ones (46.8%).  Many of the positive comments outlined increased demand, but this is counterbalanced by significant labour shortages and logistics disruptions many manufacturers are now facing."
BNZ Senior Economist, Doug Steel:
  • "the overt strength in the PMI comes amid ongoing supply side challenges that the sector faces and clear weakness in the Central region during the month."
(Bolding in those quotes is mine, we are seeing similar all around the globe)

Sub indexes, so strong ....
nz June 2021 pmi sub indexes
And, coming up very soon ... more of a focus than the PMI:

2245 GMT NZ CPI - inflation in New Zealand for Q2 2021

  • CPI expected 0.8% q/q, prior 0.8%
  • CPI expected 2.8% y/y, prior 1.5%
This is an important piece of data for the RBNZ as posted yesterday:

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