New Zealand Manufacturing PMI Sinks To 50.6 In November - BusinessNZ

(RTTNews) - The manufacturing sector in New Zealand continued to expand in November, albeit at a much slower pace, the latest survey from BusinessNZ showed on Friday with a manufacturing PMI score of 50.6.

That's down from 54.3 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, production (52.2) and new orders (54.7) expanded, while employment (48.2), finished stocks (48.3) and deliveries (42.9) contracted.

"The PMI implications for economic and employment growth seem clear - soft. But with obvious difficulties remaining on the supply side, we'd suggest that inflation is still rising," BNZ Senior Economist Doug Steel said.