New Zealand BusinessNZ PMI dropped to 58.3 in April, down from 63.6. Looking at some details, production dropped form 66.5 to 64.5. Employment dropped from 53.6 to 52.7. New orders dropped from 72.3 to 60.9. Finished stocks dropped from 55.4 to 55.2. Deliveries also dropped from 63.0 to 52.4.
BNZ Senior Economist, Craig Ebert stated that “firms’ commentary to April’s PMI noted improving conditions internationally, in addition to many global PMIs clearly pointing to economic activity expanding strongly in significant portions of the world right now”.
