BusinessNZ Manufacturing PMI dribbles even further into contraction, comes in at 47.2 in December:
- November revised to 47.2 also
From the report, a not optimistic outlook. NZ analysts are expecting a recession this year, and for the RBNZ to hike into it with inflation still wat above target:
- BNZ Senior Economist, Doug Steel stated that the latest PMI result “broadly fits with the clear decline we already expect for manufacturing GDP in Q4 with further slippage expected in Q1″.
