Business

Slight expansion in manfacturing in January

08:56 am on 13 February 2010

Manufacturing activity narrowly expanded in January and an economist says the picture for employment may start to look up by the middle of the year.

The BNZ Capital-Business New Zealand Performance of Manufacturing Index fell 1 point to 52 in January - a reading above 50 shows the sector is expanding.

BNZ economist Doug Steel says the sector is showing the classic signs of recovery with expansion in two key areas: new orders at 56.2 and production at 52.3.

However, finished stocks, deliveries and employment all fell.