BNZ – BusinessNZ Performance of Manufacturing Index - New Zealand August Manufacturing PMI 49.9 (prior 52.8)
Well below the average of 52.5 since the survey began.
BusinessNZ’s Director, Advocacy Catherine Beard:
- “Two of the five main sub-index values were in expansion during August. This was led by New Orders (55.2), which encouragingly continues to trend upwards, reaching its highest level of activity since August 2022. Deliveries of Raw Materials (50.5) also remained in expansion, although down from July. In contrast, Production (46.6) fell 6.7 points from July, while Employment (49.1) and Finished Stocks (47.1) also recorded contraction."
BNZ’s Senior Economist Doug Steel:
“manufacturers are continuing to do it tough. We believe the general trend in the economy is still upwards, but indicators are often choppy around a turning point”.
