New Zealand Manufacturing PMI Slips To 46.3 In July - BusinessNZ

(RTTNews) - The manufacturing sector in New Zealand continued to contract in July, and at a faster rate, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 46.3.

That missed expectations for a score of 49.4 and was down from the downwardly revised 47.4 in June (originally 47.5).

Among the individual components, deliveries (42.3), production (42.9), employment (44.3) and new orders (45.0) all contracted, while finished stocks (52.6) expanded.

Manufacturers noted general market uncertainty, rising costs, and weather affecting demand as the key negative influences on activity for July.