PMI worsens in July, pointing to softer demand and slow growth

Thu, 09 Aug 2018

By Sophie Boot Aug. 10 (BusinessDesk) - New Zealand's manufacturing activity worsened further in July, dropping for the third month in a row and marking its second consecutive month below its long-run average. The BNZ-BusinessNZ performance of manufacturing index fell to a seasonally adjusted 51.2 in July from 52.8 in June. A reading above 50 separates expanding activity from contraction. The measure outperformed in 2017, averaging 56.2, above the long-term average of 53.8 going back to August 2002. The New Zealand dollar dipped from 66.1...

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