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New Zealand Manufacturing Sector Moves To Expansion - BusinessNZ
(RTTNews) - The manufacturing sector moved back up into expansion territory in October, the latest survey from Business New Zealand revealed on Friday with a Performance of Manufacturing Index score of 51.4.
That's up from 49.9 and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production (52.0), deliveries (50.6), finished stocks (51.3) and new orders (54.9) all expanded, while employment (48.1) remained in contraction.
"The October result sees the PMI now boasting four consecutive months above the breakeven 50 mark for the first time in three years," said BNZ Senior Economist Doug Steel.
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