February marked the 7 month in a row this index had been in contraction.

March registers an expansion at 51.6

  • prior 48.9

BNZ Senior Economist Craig Ebert:

  • "despite some horribly weak components, the PSI supported the idea that GDP is on track to recover in Q2, after a flat-to-negative performance in Q1."

Patchy sub-index results:

nz pmi 19 April 2022