14 Apr 2016

Pace of growth slows in manufacturing sector

12:22 pm on 14 April 2016

Activity in the manufacturing sector has eased, with employment falling for a second consecutive month.

The BNZ-Business New Zealand Performance of Manufacturing Index fell by a seasonally adjusted 1.2 points in March to 54.7.

That marks the lowest level of expansion since October. A reading over 50 indicates expansion.

All sub-indexes fell, with employment falling further into contraction level at 48.6.

The executive director of Business New Zealand, Catherine Beard, says manufacturers are reporting a slowdown in domestic and offshore orders.

"While a number of negative comments mentioned a slowdown in both domestic and offshore orders, it is still important to remember that two-thirds of comments from manufacturers remain positive, not to mention that the sector is still in expansion mode," she said.