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New Zealand Manufacturing PMI Accelerates In April - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in April, and at a faster pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.9.
That's up from 53.2 in March, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production (53.8), employment (55.0), new orders (51.4), finished stocks (53.2) and deliveries (56.2) all expanded.
"Activity is not surging, but a manufacturing recovery seems to be underway with the PMI having improved substantially from its low of 41.4 last June. That said, there remain questions around how sustainable it is given uncertainty stemming from offshore," BNZ's Senior Economist Doug Steel said.
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