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- Business NZ performance of manufacturing index for New Zealand rises to 54.7 in November
Business NZ performance of manufacturing index for New Zealand rises to 54.7 in November
According to the Business NZ Survey published on late Thursday evening, the Business NZ performance of manufacturing index (PMI) for New Zealand rose to 54.7 in November to 53.2 in October. October's figure was revised down from 53.3.
A reading above 50 indicates expansion in the manufacturing sector.
The rise was mainly driven by a faster expansion in new orders and employment.
"New orders (57.8) was at its highest level since June, as was employment (53.7). Also, the proportion of positive comments for November (68.6%) was a healthy pick up from both October (61.8%) and September (58.7%). A number of comments centred on seasonal factors at play, although others mentioned good customer demand, both domestically and offshore," Business NZ's executive director for manufacturing, Catherine Beard, said.
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