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Reuters
13-03-2025
- Business
- Reuters
New Zealand manufacturing continues to expand in February, survey says
SYDNEY, March 14 (Reuters) - Manufacturing activity in New Zealand expanded in February, hitting the highest levels since August 2022, helped by strong results at the key index for production and new orders, a survey showed on Friday. The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 53.9 in February from a revised 51.7 in January. New orders edged higher to 51.5 from 51.3 in the prior month. A reading above 50 indicates manufacturing activity is expanding, while anything below that threshold points to contraction. "It is one of several indicators that suggests the broader economy is turning for the better. Indeed, it indicates the pickup may be a bit faster than we are currently forecasting," BNZ Senior Economist Doug Steel said in a statement.
Reuters
13-02-2025
- Business
- Reuters
New Zealand manufacturing activity expands for first time in two years, survey shows
SYDNEY, Feb 14 (Reuters) - Manufacturing activity in New Zealand expanded for the first time in nearly two years, with key sub-index results for both production and new orders in positive territory, a survey showed on Friday. The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) jumped to 51.4 in January from a revised 46.2 in December. New orders rose to 50.9 from 46.8 in the prior month. A reading above 50 indicates manufacturing activity is expanding, while anything below that threshold points to contraction. "It's a positive start to 2025, with the manufacturing sector shifting out of reverse and into first gear," BNZ Senior Economist Doug Steel said in a statement. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
