NZ manufacturing extends expansion for 16th month, driven by new orders, production

Wed, 12 Feb 2014

Feb. 13 (BusinessDesk) - New Zealand manufacturing activity expanded for a 16th straight month in January, driven by new orders and production, suggesting the relatively strong kiwi dollar hasn’t been enough to dent activity. The BNZ-BusinessNZ seasonally adjusted performance of manufacturing index slipped to 56.2 last month from 56.4 in December. The PMI was at 55 in January 2013. A reading above 50 indicates expansion in the sector. New orders eased to 60.2 from 61.4 in December, having held above 60 in six of the past seven months. Produ...

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