New Zealand Business PMI came in at 46.1 in August vs.46.3 prior

Lallalit Srijandorn FXStreet

The Business NZ reported on Friday that the New Zealand Business PMI came in at 46.1 in August from July’s print of 46.3.

“While the key sub-index components of New Orders (46.6) and Production (43.9) improved slightly from July, the trend since March has seen them all but entrenched in contraction. Any movement towards overall expansion in the sector needs to see a sustained lift above 50.0 for both of these key PMI components. Again, only Finished Stocks (52.1) remained in positive territory for August.”, said BusinessNZ’s Director, Advocacy Catherine Beard.

Market reaction

The above economic data fails to move the needle around the New Zealand Dollar. NZD/USD is trading at 0.5911, unchanged on the day.

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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