Manufacturing activity contracts further in June

(Image: Getty)

Thu, 13 Jul 2023

Activity in New Zealand’s manufacturing sector contracted in June to its lowest level of activity since November 2022.The seasonally adjusted PMI for April was 47.5, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).A reading below 50 indicates manufacturing is declining.This was the lowest level of activity since November 2022 and well below the long-term average activity rate of 53.0.The sector remains entrenched in contraction, with eight of the last ten months showing overall activity below t...

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