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New Zealand Manufacturing PMI Slows To 52.8

The manufacturing sector in New Zealand continued to expand in June, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 52.8.

That's down from the downwardly revised 54.4 in May (originally 54.5), although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Among the main indexes, production, deliveries, finished stocks and new orders all expanded, while employment contracted.

"Production (51.8) experienced another decrease in expansion levels for June, which meant it was down to its lowest point since January 2017. On a positive note, the other key sub-index of New Orders (57.1) remained in healthy territory, which at least should feed through to production levels in the coming months," said BusinessNZ Executive Director Catherine Beard.

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