Manufacturing activity expanded in November

Fri, 13 Dec 2019

Manufacturing activity expanded for the second month in a row in November, although at a slower rate. The Bank of New Zealand-BusinessNZ performance of manufacturing activity index eased 1.2 points to 51.4 but remained above the 50 level that separates expansion from contraction. The PMI snapped three months of contraction in October, jumping 3.8 points. “If October’s big lift in the PMI suggested the worst of NZ’s economic slowdown was behind us, November’s consolidation suggests any acceleration is not going to be in a straight line...

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