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New Zealand July Manufacturing PMI 44.0 (prior 41.1)

Started by forex4you, Aug 16, 2024, 06:02 am

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Aug 16, 2024, 06:02 am
New Zealand July Manufacturing PMI 44.0 (prior 41.1)

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.

Source: New Zealand July Manufacturing PMI 44.0 (prior 41.1)

forexlive.com
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