BusinessNZ manufacturing PMI reflecting the renewed restrictions imposed in New Zealand for the month, especially the harsher ones in the major centre of Auckaland.
BusinessNZ's executive director for manufacturing Catherine Beard:
- "After two months of playing catch-up, the level 3 lockdown placed on New Zealand's largest population and economic region meant the sector would experience another hit. While results in other parts of the country led to the national result keeping its head above water, the latest results show how fragile and short the recovery can be."
- "While the key indices of new orders (54.0) and production (51.1) still remained positive, employment (49.0) remained in contraction for the sixth consecutive month."
BNZ Senior Economist Doug Steel:
- "an outcome above the 50 breakeven mark - indicating a modicum of growth occurred in the month - is arguably a commendable result given more than a third of the country moved into alert level 3 for more than half of the month."
The new orders sub measure is encouraging:
