BNZ-BusinessNZ PMI prints lowest since Dec 2012

Ivan Delgado Independent Analyst

FXStreet (Bali) - The BNZ-BusinessNZ PMI declined by 6.2 points in January to 50.9 vs 57.7 the prior month, a reading that represents the lowest level since December 2012.

BNZ economist Doug Steel suggested that the reading should be taken with a grain of salt given the holiday period but also admitted that "the extent and detail of the latest PMI move suggests we should not fully discount it either. It might just be telling us something. It certainly questions the strength of growth earlier in 2015."

Author

Ivan Delgado

Independent Analyst

Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.

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