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Financial News: New Zealand Manufacturing PMI Slows To 54.5 In

New Zealand Manufacturing PMI Slows To 54.5 In May

06/14/2018 - 18:50:00 (RTTNews)

(RTTNews) - The manufacturing sector in New Zealand continued to expand, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 54.5.

That's down from the upwardly revised 59.1 in April (originally 58.9), although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, production, deliveries, finished stocks and new orders were all in expansion territory, although employment slipped into contraction.

"In addition, the proportion of positive comments in May (55.1 percent) was the same as March and up on February (51.4 percent) and January (50.7 percent). Those who provided positive comments typically noted steady demand and work flow, with some new markets being sought after," BusinessNZ's executive director for manufacturing Catherine Beard said.

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