He New Zealand Business NZ Purchasing Managers' Index (PMI) rose to 47.3 points in Januarybut remains stuck in contraction territory after a meager rebound from 43.1 the previous month.
According to Business NZ, the New Zealand PMI gave its highest activity reading since May 2023, but has remained in contraction territory for the 11th consecutive month.
Business NZ Advocacy Director Catherine Beard stated:
“On the positive side, Employment (51.3) was in slight expansion for the first time since February 2023, while New Orders (47.7) improved to its highest level since May 2023. However, New Orders have been “eight consecutive months in contraction, which, together with Production (42.1), means that the sector is still far from returning to expansion.”
About New Zealand Business NZ PMI
The Purchasing Managers Index published by Business NZ shows business conditions in New Zealand. The PMI is an important indicator of economic conditions. A result above 50 points indicates expansion in activity, while below 50 points activity would be decreasing. A higher than anticipated result is bullish for the New Zealand dollar, while a lower result is bearish.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
