14 May 2021

Manufacturing sector activity continues to expand

10:52 am on 14 May 2021

The BNZ-Business New Zealand Performance of Manufacturing Index for April was 58.4 points, down 5.2 points from March, but well into expansion.

BNZ-Business New Zealand Performance of Manufacturing Index

File image. Photo: RNZ

It was the second highest reading since July when the country came out of lockdown, with any reading above 50 indicating expansion.

The expansion continued to be driven by strong gains in production and new orders, while employment and finished stocks were similar to March levels.

Manufacturing NZ executive director Catherine Beard said "comments continued to outline demand side influences, with increased enquiries and orders".

BNZ senior economist Craig Ebert said the expansion was consistent with what was being seen elsewhere.

"Many global PMIs clearly pointing to economic activity expanding strongly in significant portions of the world right now," he said.