Deeper levels of contraction in November for New Zealand's manufacturing sector.
- BusinessNZ’s Director, Advocacy Catherine Beard said that overall activity levels in New Zealand are now starting to mirror the global trend of contraction, which may indicate a tough start to 2023 for manufacturers.
- BNZ Senior Economist, Craig Ebert stated “it’s been quite the sag in the PMI, compared to just three months ago when everything appeared positive. Of course, the PMI can dive down to the 40-zone when things get recessionary. And November’s result wasn’t that awful. That said, it also had componentry showing a negative dynamic at play”.
