BusinessNZ manufacturing PMI keeps contracting, but at a slower pace than in April
- half of May was at alert level 2
- production and new orders showed the highest increases, to 38.4 and 40.0 respectively)
- employment down though to 39.4
- BNZ Senior Economist, Craig Ebert said that "still, a negative tone remains evident in the fact that, even with its bounce in May, the NZ PMI merely got back to the sort of levels in sank to during the 2008/09 recession."
