New Zealand's manufacturing sector has been in contraction for 14 consecutive months.

BusinessNZ comment:

  • An overall lack of sales and orders was the dominant theme in comments, along with a struggling economy

BNZ comment:

  • PMI this year to date is consistent with manufacturing GDP trailing year earlier levels
  • the details were a bit more mixed in April, rather than uniformly weak as has been the case over recent months
business nz pmi april 2024 manufacturing pmi 2

NZD/USD is little changed on the data. The data point is not an immediate NZ dollar mover generally.