21st February 2005

Manufacturing expansion steadies

Manufacturing expansion eased during January. Latest figures from ANZ-Business NZ show activity grew less strongly than the previous two months.

A drop in expansion in January is typical. The January 2005 result was higher than in January 2003 or 2004.

The high value of the New Zealand dollar continues to concern manufacturers although some noted that, apart from seasonal activity, conditions for business had changed little over recent months.