The manufacturing sector continued to expand in August, the latest ANZ-Business NZ Performance of Manufacturing Index (PMI) shows.
The PMI rose to 58.8 in August, compared with 57.5 in July and 51.9 in August last year.
A PMI reading above 50 points indicates expansion, while a reading below 50 indicates decline.
ANZ said
the main positives during August were higher domestic and international demand, as well as diversification in new product lines.
New orders was the strongest sub-sector in August at 63.6 points, compared with 61.6 in July and 56.1 in August last year.
The deliveries of raw materials were at 60.7, compared with 54.5 in July and 50.3 the year before. Production and finished stocks was at 59.8, little changed from the 59.3 recorded the previous month, but up 10.9 points from the 48.9 posted in August last year.
Employment was the only index to fall, at 50.2 in August, down from 52.1 in July and 50.8 a year earlier.
- NZPA
