New Zealand Manufacturing PMI Improves To 45.9 - BusinessNZ

(RTTNews) - The manufacturing sector in New Zealand continued to contract in December, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 45.9.

That's up from the downwardly revised 45.2 in November (originally 45.5), although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production (41.9), employment (47.6), new orders (46.5), finished stocks (45.9) and deliveries (49.8) all remained in contraction.

"The PMI is yet another New Zealand economic indicator that suggests parts of the economy are suffering the most they have since the GFC, excluding the COVID-turmoil," BNZ Senior Economist Doug Steel said.