FX.co ★ New Zealand Manufacturing Shrinks for 1st Time in 11 Months

New Zealand’s BusinessNZ Performance of Manufacturing Index slipped to 49.9 in May, down from a downwardly revised 50.4 in April. This marked the first move into contraction territory since June 2025 and put the index below its long-term average of 52.5. The latest reading underscored the significant drag from the war in Iran on manufacturing activity.