A welcome number, but of course with the renewed outbreak in NZ and subsequent lockdown wariness will persist.
BusinessNZ's executive director for manufacturing Catherine Beard:
- "This is obviously a welcome outcome given the halt in any activity for many over lockdown. However, we should be careful not to interpret this as a new dawn for the sector, rather a catch-up for many trying to get back to a new sense of normality."
- "employment (46.5) remained weak and in contraction for the fifth consecutive month."
BNZ Senior Economist, Doug Steel
- "July's PMI had firmly set up the idea that manufacturing GDP would bounce back strongly in Q3 after what was surely a very large decline in Q2. The latest virus outbreak calls that into question and adds to the reservations that we already had for growth in Q4."
NZD is little changed.
