FX.co ★ New Zealand Composite PMI Hits 5-Month Low

In November 2025, New Zealand's seasonally adjusted BusinessNZ Performance of Composite Index experienced a decline to 48.8, down from a previously revised figure of 50.0 in the preceding month. This marks its lowest point since August, indicating a return to contraction. The services sector, facing its most significant downturn in six months, underscores the challenging economic environment, characterized by waning consumer confidence, high cost of living, persistent inflation, elevated interest rates, and constrained household spending. Conversely, manufacturing activity showed resilience, expanding for a fifth consecutive month. Despite this, total output saw its fourth monthly contraction, with employment levels remaining weak. On the brighter side, new orders continued to increase, although at a decelerated pace, and supplier delivery times decreased further, reflecting the softened demand conditions.