WELLINGTON, Oct. 13 (Xinhua) -- New Zealand's manufacturing sector scraped through September with the minimum amount of expansion as growth continued to slow, according to the latest performance of manufacturing index (PMI).

The seasonally adjusted BNZ-Business New Zealand PMI for September was 50.8, down from 52.7 in August, when the figure equaled the average result of the first nine months.

A PMI reading above 50 indicates that manufacturing is generally expanding, and below 50 contraction.

Business New Zealand executive director for manufacturing Catherine Beard said the fourth consecutive fall in expansion was disappointing in terms of building momentum for the sector.

"The overall PMI result for September showing minor expansion almost parallels the views by respondents being evenly split in terms of major influences on business activity being positive or negative," said Beard.

"On the negative side of things, comments received tended to focus on a lack of both domestic and offshore orders, while positive comments were spread amongst various influences, with no one issue dominating."

It would be "interesting" to see if the slide could be curbed with a pick-up in new production and orders as Christmas approached, she said.

BNZ economist Doug Steel said the manufacturing sector had faced weak domestic construction, a generally strong New Zealand dollar and concern around world economic growth.

"Still, we take some solace from the fact that the PMI remains above the 50 mark, even with the headwinds outlined. And we remain optimistic for manufacturing as some of these headwinds are expected to at least abate or even become tailwinds next year," said Steel.

Four of the five seasonally adjusted main diffusion indices were in expansion last month: new orders (51.5) led the way, followed by employment and finished stocks (both at 51.2). Production (50.8) fell to its lowest level since March, and deliveries (49.7) showed contraction for the first time since March.

Source:news.xinhuanet