New Zealand April Manufacturing PMI shows an uptick in expansion to 53.9 vs. prior 53.2

BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

April comes in at 53.9

• up from 53.2 in March
• fourth month in a row showing expansion
• above the average of 52.5

BusinessNZ’s Director, Advocacy Catherine Beard:

• “All of the sub-index values were in expansion during April.”

BNZ’s Senior Economist Doug Steel:

• “activity is not surging, but a manufacturing recovery seems to be underway with the PMI having improved substantially from its low of 41.4 last June. That said, there remain questions around how sustainable it is given uncertainty stemming from offshore”.

This article was written by Eamonn Sheridan at www.forexlive.com.