New Zealand Manufacturing PMI Little Changed In February - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in February, albeit it at a barely slower pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 55.0.
That's down from 55.1 in January, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, production (56.7), employment (50.4), new orders (57.6), finished stocks (50.9) and deliveries (51.0) all expanded last month.
"Recent economic data have taken a backseat relative to the conflict in Middle East. While it is too early for the PMI to capture any of these impacts, the February outturn well above the breakeven 50 mark is a useful starting point," BNZ Senior Economist Doug Steel said.
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