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13 Mar 2015
BNZ-BusinessNZ PMI: 29th straight month of expansion
FXStreet (Bali) - The BNZ-BusinessNZ performance of manufacturing index soared by 5.2 points in February to 55.9, a 29th straight month of expansion.
Key Quotes
All five main diffusion indexes were in expansion with new orders (61.5) leading the way with its highest result since November 2013, while deliveries (58.2) experienced its highest value since September 2014. Finished stocks (54.3) dropped two points from January, while both employment (52.5) and production (51.8) improved from the previous month, the data showed.
Commenting on the bounce-back in the PMI, BNZ senior economist Craig Ebert wrote, "We had expected as much - last month noting that the big gap between the oddly low PMI (50.9) and still-strong PSI (57.8) in January would tend to suggest the PMI will post a sizable rebound the very next month. Thankfully, this proved to be the case."
Key Quotes
All five main diffusion indexes were in expansion with new orders (61.5) leading the way with its highest result since November 2013, while deliveries (58.2) experienced its highest value since September 2014. Finished stocks (54.3) dropped two points from January, while both employment (52.5) and production (51.8) improved from the previous month, the data showed.
Commenting on the bounce-back in the PMI, BNZ senior economist Craig Ebert wrote, "We had expected as much - last month noting that the big gap between the oddly low PMI (50.9) and still-strong PSI (57.8) in January would tend to suggest the PMI will post a sizable rebound the very next month. Thankfully, this proved to be the case."