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.
New Zealand July Manufacturing PMI 44.0 (prior 41.1)