New Zealand manufacturing PMI for February: 53.7 (prior 53.1)
BusinessNZ/BNZ data, this the February manufacturing PMI for NZ
53.7 (second highest for the last nine months)
- prior was 53.0, revised from 53.1
Main sub-index values
- production (53.9) , new orders (54.7) both up after a noticeable drop in expansion levels during January
- employment (50.8) down a further 1.2, now at its lowest level since August 2018
BNZ Senior Economist, Craig Ebert:
- "While the PMI remains broadly encouraging, inventory dynamics bear watching - in case they forewarn of a slower tone to manufacturing production ahead."
NZD up a few tics on the data release.