NZ manufacturing activity grows in November, PMI shows
NZ manufacturing activity grows in November, BNZ-BusinessNZ PMI shows
Dec. 13 (BusinessDesk) – New Zealand manufacturing activity rose in November, extending expansion in the sector for 12 consecutive months, according to the latest BNZ-BusinessNZ PMI.
The seasonally adjusted PMI rose 1.8 points to 56.7 in November from October, though the report and commentary isn’t scheduled for release until 10:30am today. The data showed broad-based gains in most sub-indices.
Government figures this week showed manufacturing sales volumes edged up 0.5 percent in the September quarter, with growth in metal products and petroleum and coal products offsetting declines in meat and dairy.
The New Zealand dollar didn’t react to headlines citing the PMI, recently traded at 82.48 US cents, unchanged from when it was first reported.