Manufacturing grows at slowest pace in more than six years

Thu, 13 Jun 2019

By Rebecca Howard June 14 (BusinessDesk) - Manufacturing activity grew at its slowest pace in more than six years last month, and barely remained in expansionary territory. The Bank of New Zealand-Business NZ performance of manufacturing index fell 2.5 points to a seasonally adjusted 50.2 in May and was down from 54.6 a year earlier. A reading above 50 indicates activity is expanding. It was the lowest reading since December 2012, when it was also 50.2. The last time manufacturing activity contracted was in September 2012 when the index...

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