NZ manufacturing climbs to 12-month high as production reaches 8-year high

Thu, 14 Mar 2013

March 15 (BusinessDesk) – New Zealand manufacturing expanded for a third month to reach the highest level in a year in February, driven by an accelerating pace of production and new orders. BNZ-Business New Zealand Performance of Manufacturing Index rose 1.1 points to 56.3, the highest since February 2012. All five of the seasonally adjusted diffusion indexes expanded last month. Food, beverage and tobacco manufacturing was the fastest growing sector, with a reading of 67.8, which bank of New Zealand economist Craig Ebert said may reflect in...

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