https://www.rnz.co.nz/assets/news_crops/87205/eight_col_124052003_l.jpg?1567996412 The manufacturing sector has roared back to life, with new orders and production levels leaping into growth mode. Photo: 123rf The BNZ-Business New Zealand Performance of Manufacturing Index (PMI) for January rose 9.2 points to 57.5. The reading above 50 points – which indicates growth – is a far cry from its December reading when it slumped 6 points into contraction territory and the strongest monthly read since July last year. BNZ senior economist Craig Ebert said indications from firms was that “bigger was better”. “By firm size, there was a very clear message of the bigger the better – traversing an unadjusted 49.4 for micro firms to 65.3 for large firms.” Components within the measure also told a positive story, with new orders jumping to a very strong 62.4, after nearly stalling in December. Production lifted to 59.1, and the employment index was also positive coming in at ...
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