18 Sep 2009

Slight contraction in manufacturing sector in August

3:33 pm on 18 September 2009

Activity in the manufacturing sector contracted slightly in August, with the BNZ Capital - Business New Zealand Performance of Manufacturing Index at 48.7 in August.

A reading below 50 indicates manufacturing activity is declining.

However, BNZ Capital head of research Steven Toplis says the manufacturing sector is still experiencing a recovery. He thinks the latest result could just be a blip for the sector.