The manufacturing sector in New Zealand continued to expand in May, and at an accelerated pace, the latest survey from Business NZ showed on Friday with a Performance of Manufacturing Index score of 57.1.
That’s up from the upwardly revised 56.6 in April (originally 56.5), and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, production jumped to 61.1, while new orders climbed to 59.9.
“The production readings in the PMI have certainly kept our chins up, when recent results on manufacturing GDP have looked a bit wobbly,” said Craig Ebert, BNZ Senior Economist.
The material has been provided by InstaForex Company – www.instaforex.com