Common thread

From businessnz.org.nz

New Zealand’s manufacturing sector fell into contraction for the first time in 2022, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for October was 49.3 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 2.4 points lower than September, and the lowest level of activity since August last year when there was a nation-wide COVID related lockdown. BusinessNZ’s Director, Advocacy Catherine Beard said that the October result for New Zealand mirrors similar results overseas. “Given ... (full story)