Manufacturing sector index hits highest level on record

Manufacturing sector index hits highest level on record
Staff reporters
A strong rise in new orders and production saw the March BNZ - BusinessNZ Performance of Manufacturing Index hit its highest monthly result since the survey began in 2002.The seasonally adjusted PMI for March was 63.6, up 9.4 points from February. A PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining.The two major sub-index values of Production (66.8) and New Orders (72.5) were the main drivers of the March result, with the latter experiencing its first post-70-point value.Demand has lifte...