Manufacturing industry strong

Manufacturing throughout New Zealand is continuing to expand, but it slowed as usual during the Christmas period.

According to the ANZ-Business New Zealand Performance of Manufacturing Index (PMI), production eased from October highs and employment declined slightly.

New Zealand recorded an overall PMI value of 54 for December, down from November's value of 64.4. But the ANZ said this was consistent with the normal Christmas pattern.

An index score above 50 indicates that manufacturing is expanding and a score below 50 indicates a decline.

Figures for December showed Canterbury/Westland at 65.3 recorded the highest level of expansion, while at 54.5 and 51.1 respectively Otago-Southland and Northern experienced more moderate growth. Central, which includes Wellington, posted 48.7.

Many firms considered domestic demand during the Christmas period to be strong, though the dollar's continued appreciation against the US dollar continued to undermine export returns.

- NZPA