Manufacturing proves resilient to omicron

Factories are still processing through the omicron outbreak. (Image: Deposit Photos)

Fri, 11 Mar 2022

New Zealand’s manufacturing sector proved resilient to omicron in February but there are headwinds.The seasonally-adjusted PMI for February was 53.6 in February versus 52.3 in January, according to the BNZ-BusinessNZ performance of manufacturing index (PMI). A reading of 50 separates expanding activity from contraction.“This February result, amid covid case numbers enormously greater than anything NZ experienced beforehand, is heartening”, said BNZ senior economist Craig Ebert.“Make no mistake, the PMI can be rocked by c...

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