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
NZD/USD is little changed on the data. The data point is not an immediate NZ dollar mover generally.
This article was written by Eamonn Sheridan at www.forexlive.com.
