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.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.