Latest lockdowns take a bite out of manufacturing

Fri, 17 Sep 2021

The latest lockdowns saw NZ’s manufacturing sector contract sharply.The latest BNZ-BusinessNZ Performance of Manufacturing Index fell to 40.1 in August, a drop of 22.1 points from a very strong July. A reading below 50 means that manufacturing is declining. BNZ senior economist Doug Steel said: “That represents real pain, with the production component unsurprisingly falling the most, to a dreadful 27.7. For many, production stops in lockdown.”He noted, however, that at 40.1 it wasn’t as low as the 26.3 it hit in las...

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