KEY POINTS:
A good flow of new orders helped manufacturing continue to expand during last month, Business NZ's latest performance of manufacturing index (PMI) shows.
September's seasonally adjusted PMI, at 54.6, was down 1.1 points from August, but close to the July result, Business NZ chief Phil O'Reilly said yesterday.
A reading above 50 indicates manufacturing is generally expanding; below 50 it is declining.
New orders and new product lines were a recurring theme by those firms noting a healthy pick-up in activity, O'Reilly said.
Among the five seasonally adjusted main diffusion indices, new orders had the strongest expansion with a reading of 57.4, then production with 55. The other three also showed an expansion.
O'Reilly said the manufacturing year was shaping up to be steady, rather than outstanding.
Survey results broken down by industry were generally positive, with the petroleum, coal, chemical and associated products sector at 64.5 having its strongest result since last November.
- NZPA
