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Financial News: New Zealand Manufacturing PMI Climbs To 51.3 -

New Zealand Manufacturing PMI Climbs To 51.3 - BusinessNZ

07/11/2019 - 18:56:00 (RTTNews)

(RTTNews) - The manufacturing sector in New Zealand continued to expand in June, and at a faster rate, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 51.3.

That's up from 50.4 in May and it moves further above the boom-or-bust line of 50 that separates expansion from contraction - although it remains beneath the long-term survey average of 53.4.

"The key sub-indexes of production (51.0) and new orders (52.8) recovered from May, which ensured the sector didn't fall into contraction for June," BusinessNZ Executive Director Catherine Beard said. "However, employment (48.0) worsened to its lowest level since August 2016, while deliveries of raw materials (48.9) also fell into negative territory for the first time since December 2017, and its lowest result since September 2012."

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