Man­u­fac­tur­ing gains

Weekend Herald - - FRAN O’SULLIVAN -

New Zealand’s man­u­fac­tur­ing ac­tiv­ity con­tin­ued to gain in Au­gust, push­ing fur­ther above the long- term av­er­age as ac­tiv­ity in the South Is­land and larger firms picked up. The Busi­nessNZ-Bank of New Zealand per­for­mance of man­u­fac­tur­ing in­dex rose 2.4 points to a sea­son­ally ad­justed 57.9 in Au­gust, ex­tend­ing its run of ex­pan­sion­ary read­ings above 50 in ev­ery month since Oc­to­ber 2012. BNZ se­nior econ­o­mist Craig Ebert said growth was “rel­a­tively rapid now” as the lat­est month’s data pushed the in­dex fur­ther ahead of its long- term av­er­age of 53.3. “Un­der­ly­ing this, the re­gional im­pe­tus has be­come much more uni­form, after the South Is­land was lag­ging the North at the same stage last year,” Ebert said. Three of the five subindices rose, with pro­duc­tion up 4.1 points to 60.3 and new or­ders gain­ing 2.9 points to 58.4.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.