RTTNews reports that the latest survey from BusinessNZ showed that the manufacturing sector in New Zealand continued to expand in April, albeit at a slower pace.

Manufacturing Index was 58.4 in April. That's down from 63.6 in March, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction. Individually, production (64.5), employment (52.7), new orders (60.9), finished stocks (55.2) and deliveries (52.4) all were in expansion territory.

"Firms' commentary to April's PMI noted improving conditions internationally, in addition to many global PMIs clearly pointing to economic activity expanding strongly in significant portions of the world right now," BNZ Senior Economist Craig Ebert said.