New Zealand Manufacturing PMI Slows In January - BusinessNZ

(RTTNews) - The manufacturing sector in New Zealand continued to expand in January, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a PMI score of 52.1.

That's down from 53.7 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production (51.2), deliveries (53.8), finished stocks (52.8) and new orders (53.3) continued to expand, while employment (49.2) slipped into contraction.

"January's PMI results feel like something of a placeholder before Omicron hits proper over coming months along with anticipated higher rates of absenteeism and disruption," said BNZ Senior Economist Doug Steel.