Source: Radio New Zealand
The survey showed a rise in new orders and production, but a further weakening of employment. 123rf
Manufacturing sector activity expanded in October thanks to higher new orders and improving demand.
The BNZ-Business NZ Performance of Manufacturing Index rose by 1.3 points to 51.4 in October, although it was still below its long-run average of 52.4.
A reading over 50 was regarded as expansion in the sector.
The survey showed a rise in new orders and production, but a further weakening of employment.
BNZ senior economist Doug Steel said the lift to 51.4 from September’s 50.1 was not large, but it had moved the right way.
He says Friday’s result was the fourth consecutive monthly expansion, something that had not happened for three years.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
