16 May 2013

Manufacturing index rising

9:07 pm on 16 May 2013

Activity in the manufacturing sector has expanded for the seventh consecutive month.

The Bank of New Zealand-Business New Zealand's seasonally adjusted performance of manufacturing index rose one point to 54.5 in April.

A reading above 50 indicates expansion.

The jump was driven mainly by new orders which reached their highest level since February last year.

BNZ executive director for manufacturing Catherine Beard said the year continues to head in the right direction.

She said the jump was driven mainly by new orders and it shows the economy is starting to pick up and it's beginning to flow through to manufacturing.

Ms Beard said in terms of domestic manufacturing a lot of it is tied up with the building, housing and construction sectors.