After several months of decline, manufacturing activity expanded last month, a survey shows.
The ANZ Business Performance of Manufacturing index showed activity of 53.1 per cent, up from 48.2 per cent in July.
Scores above 50 indicate activity is expanding. A reading below 50 indicates a decline.
Manufacturers expressed similar
sentiments in August as in previous months, saying the high dollar and skills shortages hampered activity.
ANZ said there was a view the economy was slowing. The strength of the slowdown was expected to become apparent in the next few months, which were traditionally busy in the lead-up to Christmas.
Three of the four regions showed an expansion in activity, with Otago-Southland recording the highest level of growth. Its reading of 60.9 was up from 50.7 in July.
The Northern region recovered from 44.8 in July to 54, and Central showed slight expansion at 51.3, compared with July's 54.6.
The only region to show a decline was Canterbury-Westland, with 47.6 compared with 54.6 in July.
- NZPA
