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New Zealand manufacturing continues long run of expansion

Xinhua, November 12, 2015 Adjust font size:

New Zealand's manufacturing sector notched up three years on constant monthly growth in October, according to the latest performance of manufacturing index (PMI) out Thursday.

The BNZ-Business New Zealand PMI for October was 53.3 on a scale where above 50 indicates expansion and below 50 contraction.

The reading was down 1.7 points from September, but was continued a straight run of expansion since October 2012.

The key sub-indices of production, on 53.1, and new orders, on 55.9, both experienced lower levels of expansion, but they led the way for October, said Business New Zealand executive director for manufacturing Catherine Beard.

The proportion of positive comments for October, at 61.8 percent, picked up from 58.7 percent in September, with many of them in relation to increased offshore orders and new customers, Beard said in a statement. Endit