Manufacturing nosedives in April but expected to improve

Fri, 15 May 2020

Manufacturing activity is expected to recover from April’s nosedive but any improvement will depend on the sector’s ability to get new orders up and running and to adapt to revised factory floor processes under social distancing rules. The Bank of New Zealand-BusinessNZ performance of manufacturing activity index was 26.1 in April in seasonally adjusted terms. A reading below 50 indicates manufacturing was contracting and the April reading was well below February's 53.7. The survey was not run in March. The previous low point was 36.1 in No...

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