Food and bev leads way in NZ manufacturing’s 25th straight month of expansion

The New Zealand manufacturing continued its 25th straight month of expansion, according to the BNZ-Business New Zealand PMI.

The PMI was up 1.1 points in September to an overall result of 58.1, according to the NZ Herald, with all five of its sub-indices above 50. It was also the fourth consecutive month-on-month increase in the overall PMI.

Any result above 50 in the PMI indicates growth.

The Food, Beverage and Tobacco sub-sector was the strongest overall, recording a result of 70.9.

Manufacturing New Zealand’s Catherine Beard told Radio NZ that things had picked up after a subdued period in the year’s middle.

"A lot of it is flowing through from a really strong building and construction sector. But also when you look at the subgroups, food and beverage and tobacco manufacturing was very high as well," said Beard.