Manufacturing activity has contracted for 22 consecutive months

(Image: Getty)

Fri, 17 Jan 2025

New Zealand’s manufacturing sector contracted in December, marking the first time in the survey’s history that all 12 months were in contraction. The seasonally adjusted Performance of Manufacturing Index (PMI) for December was 45.9, up from 45.2 in November but still well below the average of 52.5 since the survey began, according to the latest BNZ – BusinessNZ PMI. The sector has now contracted for 22 consecutive months. “The PMI is yet another New Zealand economic indicator that suggests parts of the ec...

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