New Zealand BusinessNZ Performance of Manufacturing Index rose to 39.7 in May, up from April’s 25.9. Looking at some details, productions improved notably from 19.1 to 38.4. New orders rose from 16.9 to 40.0. Finalized stocks rose from 37.7 to 41.3. Deliveries rose form 25.2 to 41.1. However, employment edged down from 41.1. to 39.4. Also, all components, including the headline index, remains below 50.
BNZ Senior Economist, Craig Ebert said that “still, a negative tone remains evident in the fact that, even with its bounce in May, the NZ PMI merely got back to the sort of levels in sank to during the 2008/09 recession.”
