RSS New Zealand Manufacturing PMI Improves To 45.9 - BusinessNZ

[Crax Bot]

The latest survey by BusinessNZ, released on Friday, indicates that New Zealand's manufacturing sector continued to contract in December, though the pace of contraction has eased slightly. The Manufacturing Purchasing Managers' Index (PMI) for the month recorded a score of 45.9, a modest increase from November's revised figure of 45.2 (initially reported as 45.5). Notably, the PMI remains below the 50 threshold, the mark of separation between expansion and contraction in the sector.

Breaking down the figures, categories such as production (41.9), employment (47.6), new orders (46.5), finished stocks (45.9), and deliveries (49.8) all continued to show contraction.

BNZ Senior Economist Doug Steel commented, "The PMI is another indicator, among many in New Zealand, suggesting that certain parts of the economy are experiencing their most significant downturn since the Global Financial Crisis, excluding the disruptions caused by COVID-19."

The material has been provided by InstaForex Company - www.instaforex.com

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