NZ manufacturing climbs to 9-year high in May, led by new orders, production

Thu, 13 Jun 2013

June 14 (BusinessDesk) - New Zealand manufacturing activity rose in May to the highest level since June 2004, led by new orders and production, stoking optimism the economy may be picking up pace. The BNZ-BusinessNZ performance of manufacturing index rose 4 points to 59.2 in May, the highest level in nine years and the strongest reading for May since the survey began in 2002. The monthly survey suggests manufacturing may not be as weak as suggested in government figure this week showing sales volumes fell 0.6 percent in the first quarter and...

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