New Zealand’s 10-Year Yield Dives Below 1% For First Time As Manufacturing Gauge Sinks Into Contraction

New Zealand’s 10-Year Yield Dives Below 1% For First Time As Manufacturing Gauge Sinks Into Contraction

Don't look now, but New Zealand's Performance of Manufacturing Index just printed in contraction territory for the first time since 2012. The gauge dropped to 48.2 in July from a revised 51.1 in June. July's print is the worst in seven years and the first contractionary read since September of 2012. This of course comes on the heels of RBNZ's larger-than-expected rate cut last week, when the central bank surprised economists with a 50bp move. "GDP growth has slowed over the past year and gr
Subscribe or log in to read the rest of this content.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints