10.10.201919:15:00UTC+00New Zealand Manufacturing PMI Unchanged At 48.4 - BusinessNZ

The manufacturing sector in New Zealand continued to contract in September, and at a steady pace, the latest survey from BusinessNZ revealed on Friday with a manufacturing PMI score of 48.4.

That's unchanged from the August reading and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production, deliveries and finished stocks all contracted, while employment was stagnant and new orders were just barely above the line.

"Overall, while it is good to see the sector not declining further, it remains stuck in a tight band of contraction. The key to lifting it back into expansion will be a sustained boost to both new orders and production in the months ahead," BusinessNZ's executive director for manufacturing Catherine Beard said.