New Zealand BusinessNZ Performance of Manufacturing Index rose sharply to 56.3 in June, up from 39.8. That’s also the highest level since April 2018. Looking at some details, production rose from 38.1 to 58.6. New orders rose from 39.2 to 58.6. Employment rose fro 39.2 to 48.5, but stayed below 50.
BusinessNZ’s executive director for manufacturing Catherine Beard said: “We should remain cautious that one expansionary result does not represent a trend given ongoing offshore uncertainty around COVID-19. A consistent trail of new orders over the coming months would go a long way towards ensuring the second half of 2020 is better than the first. ”
