16 Dec 2011

Manufacturers optimistic about next year

10:30 am on 16 December 2011

The rebuild of Christchurch and the commodities boom are raising the hopes of manufacturers that activity will improve next year.

The November BNZ-BusinessNZ Performance of Manufacturing Index fell to its lowest level since June 2009, down nearly one point from October to 45.7.

A reading below 50 indicates manufacturing activity is contracting.

Manufacturers hoping October's decline was a one-off have been surprised by the November fall.

But Manufacturing New Zealand executive director Catherine Beard says the industry remains optimistic about 2012.