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New Zealand Manufacturing Sector Slows In March - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in March, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.2.
That's down from 54.8 in February, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, deliveries were flat at 50.0, while production (53.8), employment (51.4), new orders (55.8) and finished stocks (54.0) all expanded.
"The PMI result supports our view that economic growth was reasonable in the first quarter of the year, even though material headwinds had accumulated by quarter's end," BNZ Senior Economist Doug Steel said.
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