WELLINGTON – Manufacturing activity in New Zealand in March improved a tad due to strong new orders and positive employment, a survey showed on Thursday.
The Bank of New Zealand-Business NZ’s seasonally adjusted Performance of Manufacturing Index (PMI) rose to 53.8 from 53.6 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
However, the survey notes that negative comments outweighed positive comments in March by a factor of two to one with businesses frustrated with supply side troubles and worried about cost inflation.
(Reporting by Lucy Craymer)