KEY POINTS:
The manufacturing sector continued to expand last month to levels last seen in May 2006, according to today's Business NZ Performance of Manufacturing Index (PMI).
The index rose to 57.2 in November, seasonally adjusted, just 0.1 points up from October but well above the survey's average reading of 54.6.
A reading above 50 indicates expansion in manufacturing, and a reading below 50 is a decline.
"Activity levels are strong in all regions, with most displaying their highest levels of expansion in four years," said Business NZ chief executive Phil O'Reilly.
"Employment as an indicator was also at its highest level since 2003, suggesting that despite the struggle to obtain staff at present, some manufacturers are managing to increase staff capacity," he said.
November's reading indicated a positive end to the year, despite some negative comments from the sector about the high New Zealand dollar.
The petroleum, coal, chemical & associated product sector led the way for November with a reading of 73.8. The food, beverage & tobacco sector, with 72.1, was at a five-year high due to very high production, Mr O'Reilly said.
All regions recorded expansion, for the fourth consecutive month.
- NZPA
