New Zealand BusinessNZ Manufacturing Index dropped to 49.3 in December, down from 51.2. That’s the second consecutive decrease and the lowest reading since September. NZ Senior Economist, Craig Ebert said that “the December result was disappointing. After a couple of months flirting with positivity, the PMI dipped back just below the breakeven line again”.
Looking at some details, production dropped from 49.4 to 48.2. Employment rose from 49.1 to 49.9 but stayed below 50. New orders dropped from 54.0 to 51.0. Finished stocks jumped from 49.2 to 52.0. Delivers dropped from 52.6 to 50.7.
