New Zealand Manufacturing Sector Accelerates In May - BusinessNZ
(RTTNews) - The manufacturing sector in New Zealand continued to expand in May, and at a faster pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 52.9.
That's up from 51.2 in April, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, production (52.8), employment (53.0), New Orders (53.0), finished stocks (53.1) and deliveries (55.4) all were in expansion territory.
"The net result of the sub-index values was the inference that excess demand alleviated during May. New orders are perhaps the cleanest representation of demand, while deliveries speak more to the supply side. To the extent excess demand is abating, so too will be core inflation pressure," said BNZ Senior Economist Craig Ebert.
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