Manufacturing turns corner, revision time for GDP forecasts

Economists could be revising their GDP forecasts upwards following this morning's manufacturing figures from Statistics New Zealand.The country's beleaguered manufacturing sector is showing signs of recovery. This morning's release of survey of manufacturing figures shows the volume of sales rose 3.1% in the December quarter, after hitting a nine-year low the previous quarter.Overall, eleven industries showed an improvement in sales volumes. The turnaround follows nearly two years' of decline.

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