New Zealand Manufacturing Sector Improves In June - BusinessNZ

RTTNews | 10h 33min ago
New Zealand Manufacturing Sector Improves In June - BusinessNZ

(RTTNews) - The manufacturing sector in New Zealand continued to contract in June, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 48.8.

That's up from the downwardly revised 47.4 in May (originally 47.5) and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, finished stocks (46.9), deliveries (47.7), production (48.6) and employment (47.9) all were in contraction, while new orders (51.2) expanded.

"Looking across the PMI sub-indices, they all remain well below their historical averages. Despite talk of an economic recovery, conditions are still very tough," said BNZ Senior Economist Doug Steel.

read more
New Zealand Holds Key Rate As Expected

New Zealand Holds Key Rate As Expected

The Reserve Bank of New Zealand left its benchmark interest rate unchanged on Wednesday citing elevated level of uncertainty and near-term risks to inflation. The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent. The bank has paused the easing cycle for the first time since it started cutting rates in August 2024.
RTTNews | 2 days ago
New Zealand Building Permits Jump 10%In May

New Zealand Building Permits Jump 10%In May

The number of building permits issued in New Zealand was up a seasonally adjusted 10 percent on month in June, Statistics New Zealand said on Tuesday - coming in at 3,151.
RTTNews | 10 days ago
New Zealand GDP Expands 0.8% In Q1

New Zealand GDP Expands 0.8% In Q1

New Zealand's gross domestic product expanded by a seasonally adjusted 0.8 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Thursday.
RTTNews | 22 days ago
New Zealand Building Consents Slump 15.6% In April

New Zealand Building Consents Slump 15.6% In April

The total number of building permits issued in New Zealand was down a seasonally adjusted 15.6 percent on month in April, Statistics New Zealand said on Friday - following the 10.7 percent increase in March. In April, there were 2,418 new dwellings consented, comprising: 1,148 stand-alone houses; 1,105 townhouses, flats, and units; 85 retirement village units; and 80 apartments.
RTTNews | 42 days ago
New Zealand Cuts Interest Rate By 25 Bps As Expected

New Zealand Cuts Interest Rate By 25 Bps As Expected

The Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected on Wednesday, as higher trade tariffs and increased policy uncertainties overseas are set to weigh on domestic economic outlook. The Monetary Policy Committee, led by acting governor Christian Hawkesby, decided to cut the Official Cash Rate by 25 basis points to 3.25 percent. The decision was passed
RTTNews | 44 days ago
New Zealand Retail Sales Rise 0.8% In Q1

New Zealand Retail Sales Rise 0.8% In Q1

The total volume of retail sales in New Zealand was up a seasonally adjusted 0.8 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Friday.
RTTNews | 49 days ago