Positive Year for NZ’s Manufacturing Sector

The assessment for the Business PMI of New Zealand remained unchanged in January which is 54.5. An index of more than 50 would denote for a business expansion while a figure below 50 indicates a contracting economy. The PMI provided an advanced outlook pertaining to the economic activities of NZ manufacturing sector.

The positive PMI of the country is caused by the increase in construction, specifically in Auckland which is the region’s major financial centre. The architectural volume is predicted to surge in the near-term since the increase in population coupled with high demand continuously support the sector’s actions. The total production cost of NZ’s gross domestic product (GDP) is close to 12%.  This industry positively contributed to the economic growth of Q3 including business services, construction, household consumption and transport. The economy beef up by 1.1% from the month of July until September, based on the report of  Wellington’s statistics bureau the previous month.