BusinessNZ Manufacturing PMI for April hits its lowest since August 2021.
BusinessNZ's Catherine Beard:
- said that after steady expansionary results over recent months, the April result highlighted the fickle nature of what manufacturers are currently experiencing
BNZ Senior Economist, Craig Ebert
- “supply problems certainly featured extensively in respondents’ comments, including inferences that COVID, and related absenteeism, remains a big issue, even with recorded case numbers having peaked back in March. This provides valuable context to the negativity in the PMI’s jobs index."