New Zealand July Manufacturing PMI 44.0 (prior 41.1)

August 16, 2024
-FCHFX

August 15, 2024 at 11:30PM
Business NZ Manufacturing PMI for July 2024 records its 17th consecutive month of contraction.

some small signs of improvement

still significantly below its long-term average of 52.6

BusinessNZ’s Director, Advocacy Catherine Beard:

sector continuing to strugglee

BNZ’s Senior Economist Doug Steel:

manufacturing activity will turn when the broader economy turns

Easing monetary conditions will help in this regard, but it will take time for the likes of a lower OCR to generate a general pick up in sales

This article was written by Eamonn Sheridan at www.forexlive.com.

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