BusinessNZ manufacturing PMI for January: 51.6 (prior 54.5)
BNZ - BusinessNZ Performance of Manufacturing Index.
The prior is revised to 54.2
BusinessNZ's executive director for manufacturing Catherine Beard:
- Decrease in expansion for the first month of 2017 was not ideal, it was clear from comments that a number of factors played a part
- "Those who outlined negative comments noted the Xmas/holiday break playing a sizeable role in reduced activity, as did weather conditions. On the flip side, those who outlined positive comments often did not note anything specific, but more business as usual"
- "Combined, this meant that the proportion of positive comments dropped from 70% in December to 59.5% in January"
BNZ Senior Economist, Craig Ebert
- "the slowdown in expansion was mainly because of a marked slowdown in its production index, which dampens expectations of a big bounce in the PMI over the short term".