New Zealand BusinessNZ Performance of Manufacturing Index jumped 9.4 pts to 63.6 in March, highest since the survey began in 2002. Looking at some details, production jumped from 58.4 to 66.8. Employment jumped from 50.2 to 53.5. New orders rose from 58.0 to 72.5.
BusinessNZ’s executive director for manufacturing Catherine Beard said “The two major sub-index values of Production (66.8) and New Orders (72.5) were the main drivers of the March result, with the latter experiencing its first post 70-point value.  This does indicate a swift shift in demand over a relatively short time, which may indicate a move towards previously shelved projects and business ventures that have now been given the green light”.
