New Zealand Manufacturing Expanded for First Time in 18 Months

October 19, 2009

New Zealand's manufacturing industry expanded in September for the first time in 18 months amid rising orders and production.

The manufacturing index was 51.7, up from 48.8 from August. It was the first expansion since April 2008, another indicator that New Zealand is now out of a recession. An index below 50 indicates that manufacturing is contracting.