Business NZ / BNZ manufacturing PMI for March 2019 drops

PMI for March 51.9

  • down 1.5 points from February
  • the lowest since July 2018

Main sub-indexes:

production (51.4) and new orders (52.5) both dropped from February

employment (51.9) up slightly

BNZ Senior Economist, Craig Ebert:

  • "slow as it might appear, New Zealand's PMI of 51.9 in March was certainly doing well in a global context. Of all the deceleration that has occurred in the world economy over the last 6-12 months, manufacturing has been at the forefront".

NZD lost a few tics only. Barely moving.