NZ manufacturing continues to grow, picks up pace

Manufacturing activity continued to grow in New Zealand
last month, recording its strongest result since last July.

The BNZ-BusinessNZ PMI survey for March recorded an
overall result of 58.4, Radio NZ and others report.

A result over 50 in the seasonally-adjusted PMI indicates
expansion, and below it contraction.

The result was up from February’s 56.2. It was also the 19th consecutive month of expansion.

“After five consecutive months of
solid activity, it was pleasing to see activity experience a further boost,”
said Catherine Beard, executive director for
manufacturing
at BusinessNZ.

Particularly strong results wqere
tracked in the new orders (60.5 and employment (56.3) indices.

“Both production and new orders
remained strong, while employment also lifted to its highest level for over six
years,” said Beard.

“The proportion of positive comments from manufacturers for
March broke the 60 percent value for the first time this year, as new
orders/customers and an improving economy is providing a stronger platform for
business growth.”

For a detailed wrap-up of the survey, click here.