NZ manufacturing activity rises in April
[WELLINGTON] Manufacturing activity in New Zealand rose in April due to strong expansion in production and new orders, a survey showed on Thursday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 56.5 from 54.7 the previous month, its highest monthly rise since January.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
"The bounce in April, to 56.5, not only arrests that previous mild momentum loss, but affirms the underlying above-average growth pulse that the manufacturing sector has displayed for many months now," BNZ senior economist Doug Steel said in a statement.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April
China travel surges for May holiday but consumers remain wary
Macau casinos remain resilient in April as consumers seek fun
Japan may introduce tax breaks to spur repatriation into yen: Sankei