Business NZ manufacturing Purchasing Managers' Index (PMI) for January: 50.9 prior 57.1 (revised from 57.7) falls to the lowest since December 2012 Comments from the release: Four of the give main diffusion indexes were in expansion Production at 47.5 falling to the lowest since April 2012 BNZ economist Doug Steel: Said not to read too much into data spanning the holiday period But ... "the extent and detail of the latest PMI move suggests we should not fully discount it either... It might just be telling us something. It certainly questions the strength of growth earlier in 2015." BusinessNZ's executive director ... (full story)