BusinessNZ Performance of Manufacturing Index (PMI)
January manufacturing PMI 53.
- prior 55.1
Long term average is 53.4
New orders (52.2) sub index:
- decreased its level of expansion for a third consecutive month
- lowest since December 2017
BNZ Senior Economist, Doug Steel:
- "looking beyond the steady headline reading, the details of this month's survey do raise some questions about the durability and pace of the current expansion"
NZD dribbling off a few tics