BusinessNZ's New Zealand Performance of Manufacturing Index saw an uptick in April, with the seasonally-adjusted figure coming in at 48.9 compared to March's 46.8, but is still lower than February's 49.1. New Zealand's manufacturing sector has been in contraction for 14 consecutive months, though the figures are seeing signs of improvement rather than across-the-board weakness.
An overall lack of sales and orders was the dominant theme in comments, along with a struggling economy. Market impact NZD/USD is trading thinly into the high side in the early Friday market session, drifting into 0.6040 after finding an intraday floor near 0.5980. About BusinessNZ's PMI The Business NZ Performance of Manufacturing Index , released by Business NZ on a monthly basis, is a leading indicator gauging business activity in New Zealand’s manufacturing sector.