New Zealand Manufacturing PMI surveys factory purchasing managers on output, orders and hiring; a reading above 50 means manufacturing is expanding and below 50 means it is contracting.
Actual
47.1
Forecast
50
Previous
49.3
Source: Business New Zealand. Figures as released; revisions appear in the next print.
New Zealand Manufacturing PMI for March 2024 came in at 47.1 versus 50 expected (previous 49.3), below forecast, which was negative for the NZD.
What it meant for the New Zealand Dollar
The actual landed below the 50 forecast (2.9 below expectations). A reading above forecast is generally bullish for the NZD, and below forecast bearish. On this release the read was negative for the NZD.
New to this release? See what New Zealand Manufacturing PMI measures, the next release and its full history.