Manufacturing activity contracts again

(Image: Unsplash)

Fri, 13 Oct 2023

Activity in New Zealand’s manufacturing sector contracted in September for the seventh month in a row. The seasonally adjusted performance of manufacturing index (PMI) for September was 45.3, down from 46.1 in August, according to the latest Bank of New Zealand (BNZ) – BusinessNZ PMI. A reading below 50 indicates manufacturing is declining. This was the lowest activity level for a non-covid-affected month since May 2009 and is well below the long-term average of 52.9. “The manufacturing sector has now been in co...

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