New Zealand Manufacturing PMI Climbs To 53.9 In February - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in February, and at a faster rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.9.
That's up from 51.4 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production (52.4), employment (54.0), new orders (51.5), finished stocks (54.1) and deliveries (56.2) were all solidly in expansion territory.
"The sustained improvement is a welcome change. It is one of several indicators that suggests the broader economy is turning for the better. Indeed, it indicates the pickup may be a bit faster than we are currently forecasting," BNZ's Senior Economist Doug Steel said.
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