FX.co ★ New Zealand Composite PMI Hits 1-Year Low

The BusinessNZ Performance of Composite Index fell to 48.4 in May 2026, down from a downwardly revised 49.2 in April. This marked a third consecutive month of contraction and the sharpest decline since May 2025. The downturn reflected a fourth straight month of contraction in the services sector, alongside the first manufacturing contraction in 11 months.