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New Zealand BusinessNZ Performance of Manufacturing Index rose from 43.4 to 47.3 in January, hitting the highest level since June last year. Despite this uptick, it's important to note that the manufacturing sector remained in contraction for eleven straight months.
Yen weakens mildly in Asian session today, contrasting with Nikkei's continued up trend towards historical high made in 1990. This development comes amidst diminishing impacts of Japanese officials' verbal interventions aimed at stemming Yen's decline. Without tangible policy measures to back these statements, the currency's depreciation has persisted. Meanwhile, Finance Minister Shunichi Suzuki's tone has softened a little bit, acknowledging the dual effects of its weakening, even though his major concerns are more on the negative side.
The manufacturing sector improved last month, but remains in contraction for the 11th consecutive month.
New Zealand's net migration rate is unsustainable - but there's little difference between the political parties' approaches and it's unclear what the government intends, an expert says.
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