Manufacturing index records expansion

A manufacturing index has recorded an expansion in activity. (Image: Unsplash)

Fri, 10 Mar 2023

Manufacturing activity has expanded for the second month in a row after contracting in the last months of last year.Released on Friday, the BNZ and BusinessNZ performance of manufacturing index (PMI) recorded a seasonally adjusted result of 52 for February (anything above 50 represents an expansion), up from 51.2 in January.This is still below the long-term average rate of 53.The positive headline figure obscured some issues, with sub-categories like production dipping into contraction territory for February.BNZ senior economist Craig Ebert des...

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