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Financial News: New Zealand Manufacturing PMI Climbs To 53.2 -

New Zealand Manufacturing PMI Climbs To 53.2 - BusinessNZ

03/12/2020 - 19:15:00 (RTTNews)

(RTTNews) - The manufacturing sector in New Zealand turned to expansion for the first time in three months, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 53.2.

That's up from 49.8 in January, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production, deliveries, finished stocks, employment and new orders all were in expansion territory - although the main focus will be on the coming months and the effect of Covid-19.

"Looking at comments from respondents, there was a noticeable increase in Covid-19 being mentioned, either directly or through the impact on shipping from China," said Catherine Beard, BusinessNZ's executive director for manufacturing. "Even those who made positive comments tempered it with concerns about the months ahead."

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