New Zealand manufacturing PMI for September improves to a still dire 46.9 (prior 46.1)

Business NZ Manufacturing PMI

Comes in at 46.9 for September 2024, thus remaining in contraction (its 19th straight month in contraction!)

• up for a third consecutive month and to its highest since April this year
• prior revised a touch higher to 46.1

BNZ’s Senior Economist Doug Steel:

• “while all sub-indices remain well below their historical average, four of the five series have moved closer to breakeven in the last three months since June”