New Zealand Manufacturing Expands Again as July PMI Climbs to 52.8

New Zealand’s manufacturing sector returned to growth in July, with the BusinessNZ-Bank of New Zealand Performance of Manufacturing Index rising to 52.8 from 48.8 the previous month. A reading above 50 signals expansion, marking the first positive print in several months and suggesting improving conditions ahead of the Reserve Bank of New Zealand’s next policy review. Separate data showed price pressures continuing to ease. The Food Price Index increased 0.7% in July from the previous month, down from a 1.2% rise in June. Meanwhile, net migration remained positive, with a seasonally adjusted inflow of 1,670 people in June compared with 1,530 in May, offering continued support to labour supply and domestic demand.