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Financial News: New Zealand Manufacturing PMI Slides To 50.7 In

New Zealand Manufacturing PMI Slides To 50.7 In August - BusinessNZ

09/10/2020 - 19:45:00 (RTTNews)

(RTTNews) - The manufacturing sector in New Zealand continued to expand in August, albeit at a much slower pace, the latest survey from BusinessNZ revealed on Friday with a PMI score of 50.7.

That's down sharply from 59.0 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

"After two months of playing catch-up, the level 3 lockdown placed on New Zealand's largest population and economic region meant the sector would experience another hit. While results in other parts of the country led to the national result keeping its head above water, the latest results show how fragile and short the recovery can be," BusinessNZ Executive Director Catherine Beard said.

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