NZ: June PMI surges to 51.3 - TDS

Analysts at TD Securities note that New Zealand’s June PMI rose to 51.3 from 50.2 in May thanks to a recovery in new orders, but has now remained below the long term average for 4 months.

Key Quotes

“The employment measure fell to the lowest levels since Aug 2016 and the delivery of raw materials posted the softest print since Sep 2012 suggesting concerns around manufacturing remain valid.”