New Zealand's manufacturing activity rose to its highest level in almost nine years in May, results of a survey by BNZ and BusinessNZ showed Friday.
The performance of manufacturing index rose to 59.2 in May, the highest reading since June 2004, from 55.2 in April. Readings above 50 indicate expansion in activity.
Looking at the May results, the value was the highest since the survey began in 2002.
"The key sub-indicators of new orders and production have both produced strong levels of expansion for May, which has significantly boosted the national figure," BusinessNZ's Executive Director for manufacturing Catherine Beard said. "Also, after a lengthy period of time in the doldrums, employment picked up in May."
New orders again led the way with its highest result since July 2004. This was followed by production, which was at a similar level to February this year. Employment increased during the month to record its strongest result since November 2007.
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