Manufacturing activity stages solid comeback

Fri, 11 Dec 2020

Manufacturing activity picked up in November with the BNZ-BusinessNZ performance of manufacturing index jumping to 55.3 from 52.4 in October.Importantly, the index is back above its long-term average of 53 and November marked the sixth consecutive month in positive territory. A PMI reading above 50 indicates that manufacturing is generally expanding; below 50 that it is contracting.“The PMI suggests that the manufacturing sector continues to move in the right direction after getting hit hard earlier in the year by covid-related restrictio...

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