New Zealand Manufacturing Index Eases To 5.1 - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.1.
That's down from 54.3 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production (54.2), deliveries (52.6), finished stocks (56.4) and new orders (54.9) all expanded, while employment was right on the line at 50.
"Although weaker than July's 54.3 print, the three-month moving average of the PMI continues to rise, indicating the industry is performing well through monthly volatility," BNZ Senior Economist, Doug Steel said.
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