The BusinessNZ Performance of Manufacturing Index (PMI) in New Zealand fell to 49.9 in August, down 2.9 points from July’s 52.8. The reading highlights that manufacturing has yet to achieve sustained growth following an extended period of decline through 2023 and 2024. Among the five main sub-indices, only New Orders (55.2 vs. 54.5 in July) and Deliveries of Raw Materials (50.5 vs. 52.1) showed expansion, while Production (46.6 vs. 53.3), Employment (49.1 vs. 50), and Finished Stocks (47.1 vs. 51.4) remained in contraction. Although negative sentiment among respondents eased slightly to 58.1% in August from 65.5% in June, many manufacturers continue to face flat sales, cautious customers, rising costs, and global uncertainty. The data indicates that recovery in the sector is uneven, with growth emerging slowly and inconsistently.