24 Jan 2013

Manufacturing up slightly in December

7:04 pm on 24 January 2013

Activity in the manufacturing sector expanded only slightly in December.

A rise in construction and food production countered falls in other sectors of the latest BNZ-Business New Zealand performance of manufacturing index.

December's index rose to 50.1, up from 48.8 in November, where a reading above 50 shows indicates expansion.

While production expanded, new orders, finished stocks, and deliveries all fell, while employment remained tight.

Given this, BNZ economist Doug Steel said it's really too early to get excited about the overall rise in manufacturing activity.