Emirates Team New Zealand's defeat at the hands of Oracle is a blow for this country's boatbuilding businesses and Government backing for a future America's Cup challenge will be crucial for the local marine sector, says an industry group boss.

Innovation is continuing to bolster Fisher & Paykel Healthcare's business in the face of a stubbornly high New Zealand dollar, says chief executive Mike Daniell.

New Zealanders work longer hours than the average of their peers in other developed countries but produce a fifth less, a new report finds.

The economy grew faster than expected in the second three months of the year, as engineering and architecture expansion offset drought impacts.

As Emirates Team NZ push hard for victory in the America's Cup, marine companies are pinning their hopes on a win and a boost to the industry.

US factories expanded last month at the fastest pace since June 2011 on a jump in orders. And a new report signals that manufacturing output could strengthen in coming months.

Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 per cent decline in annual profit after a pickup in the last two months of the financial year.

Methven's purchase of a Chinese manufacturing facility will give the company a competitive edge and full control over its supply chain.

Competitive car prices and the relatively strong Australian dollar are tempting more Australians to upgrade to a new set of wheels.

Business remains upbeat in the New Zealand Institute of Economic Research's quarterly business opinion poll.

The dollar has dropped on news the economy limped along in the first three months of the year, thanks largely to the North Island drought.

The "killing" of New Zealand's manufacturing industry can be stopped if the Government makes a series of sweeping policy changes, a new report into the sector has concluded.