Growth slows for second straight month in New Zealand manufacturing

0 Comment(s)Print E-mail Xinhua, December 16, 2016
Adjust font size:

Expansion in New Zealand's manufacturing slowed for the second month running in November, the latest Performance of Manufacturing Index (PMI) out Friday.

The BNZ-Business New Zealand PMI for November was 54.4, on a scale where above 50 indicates expansion and below 50 contraction.

It was 0.7 points lower than October and the lowest level of expansion since October 2015, although the sector has been in expansion in almost all months since October 2012.

Business New Zealand executive director for manufacturing Catherine Beard said the fundamentals of the PMI survey remained healthy despite softening for two consecutive months.

"While employment (48.6) went into slight contraction for November, production (57.9) remained unchanged from October, while new orders (58) increased 3.1 points," Beard said in a statement.

BNZ senior economist Craig Ebert said in the statement that "while the PMI slowed to a 13-month low in November, this seems nothing to lose sleep over given it is still above its long-term average of 53.2." Endit

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter