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<p>BusinessNZ Performance of Manufacturing Index (PMI):</p><p>From the report:</p><ul><li> Labour shortages, decreased demand and cost pressures were the main flavour of comments made by manufacturers.</li></ul><p>BNZ Senior Economist, Doug Steel</p><ul><li>the overall trend remains positive, but with ongoing volatility around it</li><li>the 52.0 monthly reading is now back below the PMI's longer-term norm</li></ul><p>The 'new orders' sub index fell into contraction for the second time in 13 months:</p><p>NZD/USD is little changed, the PMI tends not to have much of an impact upon release. . It was swung around with everything else after the US CPI data on Thursday. </p>

                This article was written by Eamonn Sheridan at forexlive.com.