New Zealand manufacturing PMI for May: 58.6 (prior 58.4)
BusinessNZ Performance of Manufacturing Index (PMI)
BusinessNZ's executive director for manufacturing Catherine Beard
- the two major sub-index values of Production (65.3) and New Orders (63.7) remain the cornerstones of ongoing expansion in the sector. In contrast, Employment (51.5) continues to slip into lower expansion
- "the PMI readings on Finished Stocks and Deliveries of Raw Materials for May appeared reasonable. However, they were also still clearly lagging as components in the PMI. If there was any doubt about supply-side factors being a major problem, this was put paid to by respondents' comments to May's PMI."