Manufacturing contraction extends into August

Thu, 12 Sep 2019

By Rebecca Howard Sept. 13 (BusinessDesk) - New Zealand’s manufacturing sector contracted for a second month in August as new orders hit their lowest level in more than 10 years. The Bank of New Zealand-BusinessNZ performance of manufacturing index lifted 0.3 of a point to 48.4 from July but remained below the 50 level that separates expansion from contraction. The last time the sector experienced a decline for two months in a row was 2012. Manufacturing activity has been slowing all year as the domestic economy cools and uncertainty...

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