Recommended NZ | Guide to Money | Gimme: Competitions - Giveaways

Manufacturing Activity Remains Flat In August

Contributor:
Fuseworks Media
Fuseworks Media
Manufacturing Activity Remains Flat In August

The month of August saw the manufacturing sector remain flat for the second consecutive month after steady expansion in the first half of the year, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for August stood at 49.3, which was down 1 point from July (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining).

Unadjusted regional activity was a mixed bag, with a lift in activity in the Northern and Canterbury/Westland regions, and contraction in Central and Otago/Southland regions. BusinessNZ's executive director for manufacturing Catherine Beard said that the results show manufacturing is in a fairly neutral or flat phase currently, and that the results are quite consistent with the Australian manufacturing PMI (51.7) and the global manufacturing PMI (53.8), though the United States is still in expansionary mode for August at 56.3.

All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines.