New Zealand's manufacturing sector expanded at an accelerated pace in December, the latest Performance of Manufacturing Index from Business NZ revealed on Thursday
The manufacturing index rose to 57.7 in December from 55.6 in November. This marked a faster pace of expansion as an index above 50 signals increase in manufacturing activity.
New orders and production increased at an accelerated rate, posting 62 and 61.7, respectively. Deliveries improved for the second consecutive month while finished stock rose at its slowest pace since August.
Meanwhile, employment levels declined in December after expanding for fourteen consecutive months.
"The PMI results for manufacturing are consistent with broader indicators showing that the economy is in good heart. There is a lot to like with activity expanding at a solid clip with no inflation, "BNZ senior economist Doug Steel said.
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