New Zealand's Manufacturing PMI Cooler But Still Expanding Solidly
By James Glynn
SYDNEY--New Zealand's manufacturing sector continued to expand solidly in July, but at a slower rate in the month prior.
The BNZ - BusinessNZ Performance of Manufacturing Index was 54.3 in July, indicating expansion, but it was well down from a reading of 60.1 in June.
Still, it was stronger than the survey's average of 52.5.
"After last month's exceptional result, it's not surprising to see some of that momentum ease, but a reading of 54.3 still represents solid expansion for the sector," said BusinessNZ Director of Advocacy Catherine Beard.
What's more concerning was a shift in sentiment, with 57% of comments from manufacturers being negative, she added.
"Respondents continue to point to the conflict in the Middle East, high fuel and raw material costs, and a general reluctance from customers to spend, with a number also citing uncertainty ahead of a coming election in November," she added.
Still, a fair share of manufacturers pointed to steady order books and stronger export sales as reasons for optimism in July, Beard said.
Every sub-index remained in expansion, though all eased from June's remarkable levels. Production was the strongest at 57.3, followed by deliveries at 55.8. New Orders fell to 53.3, finished stocks eased to 53.2, and employment was the weakest at 52.8, the data showed.
Write to James Glynn at james.glynn@wsj.com
(END) Dow Jones Newswires
August 13, 2026 19:14 ET (23:14 GMT)
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