New Zealand July manufacturing PMI 52.8 (up from prior 48.8) ...Middle East

A big leap back into expansion, coming in at 52.8, with June revised up to 49.2. the average for the survey is 52.5.

Negative comments indicate that manufacturers report weak demand, falling orders, rising costs, inflation, and ongoing economic uncertainty, which has been worsened by tariffs, slow construction, and low consumer spending.

BNZ’s Senior Economist Doug Steel

“given the prevailing headwinds it is, perhaps, even more encouraging that the PMI has moved back into expansion. It will need to be sustained or nudge a bit higher to be consistent with our economic forecasts, but it is good to see a move for the better”.

Earlier:

RBNZ tipped to cut cash rate to 3% as inflation cools and jobless rate hits 4-year high This article was written by Eamonn Sheridan at investinglive.com.

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