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New Zealand : Textile and clothing manufacturing up in New Zealand |
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2004-7-23
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According to the latest survey conducted on New Zealand’s manufacturing sector titled ANZ-Business NZ Performance of Manufacturing Index (PMI), revealed the country’s manufacturing output increased for June 2004, with its textiles and clothing sectors also recording overall expansion.
The survey, produced monthly, provides an early indicator of activity levels. As per the PMI reading above 50 points will indicate expansion, while less than 50 points stands for decline. New Zealand’s PMI increased from 54.1 in May to 62.2 in June and is 9 points higher than the June 2003 reading.
Export activity showed positive signs across firms for June, with many reporting a pick-up in new orders from Australia, the US and China. New Zealand''s economy has defied predictions of a slowdown this year, growing at a stronger than expected rate of 2.3% in the first quarter. |
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