NZ manufacturing PMI rises in November

12 Dec, 2013

WELLINGTON: Manufacturing activity in New Zealand rose in November to the highest level in three months due to strong new orders and production, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally-adjusted performance of manufacturing index (PMI) rose 0.8 points to 56.7 in November from an upwardly revised 55.9 in October.

A reading above 50 indicates an expansion in activity, and below a contraction.

The rise was led by a jump in the new orders sub-index to 62.0, its highest since 2004, and an increase in production to 59. Increases were also seen in the remaining indices for employment, finished stocks and deliveries.

Read Comments