This is the BusinessNZ PMI for manufacturing, in at 51.2
- New Zealand, July 2018
- June was 52.8
An expansionary reading and down on the month.
So, a sign of growth, but slower. Fits in with the RBNZ saying pretty much the same thing in its monetary policy statement yesterday.
Its a bummer when an ageing rock star (the NZ economy) starts to run out of steam …. Still cranking out the songs but the top 40 hits drying up
more:
- Slowest since December (2017, which was 50.9)
- under its longer term average 9circa 53.4)
BNZ comments:
- hinting at more than just a slowdown … manufacturing … outright slow growth
- 'growth forecasts for the second half of 2018 are on notice'