NZ manufacturing grows for 19th straight month

Growth
in New Zealand’s manufacturing sector slowed in April, but was still in “solid
expansion”.

The
BNZ-BusinessNZ
PMI survey for April recorded a result of 55.2, slightly down from March’s 58.4.

Any
result above 50 indicates expansion and below it contraction.

The
April result was the 19th straight month of expansion, and all four
regions tracked grew. Canterbury/Westland was the slowest, at 50.1.

“Comments from
respondents remained more positive than negative, although a contributing
factor to the lower level of expansion that came through was the lower number
of working days in April because of the Easter/ANZAC break,” noted Catherine Beard, the head of manufacturing at BNZ.

TVNZ points out that the result was affected by two long weekends during the month.