BNZ – BusinessNZ Performance of Manufacturing Index (PMI) for November 2024 fell further, to 45.5
- October was 45.8
Another ugly report.
BusinessNZ’s Director, Advocacy Catherine Beard:
- any momentum built over the July-September period has now reverted back to a retreat for the sector
- Negative comments during October showed similar patterns to previous months, with a focus on a lack of orders and cost of living.
BNZ’s Senior Economist Doug Steel:
- the main message of a manufacturing sector still under significant pressure remains. Recent business surveys report that manufacturers are feeling more confident about the outlook, but there is scant evidence of a general turnaround in activity to date
