The manufacturing sector in New Zealand continued to expand in July. And at a faster pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score or 62.6.
That’s up from 60.7 in June and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This was the third time in five months that the PMI posted a result over 60.0. While the key sub-index values of Production (66.0) and New Orders (65.0) both showed further expansion from June, Employment (58.3) recorded its highest ever result over the history of the survey.