New orders help manufacturing recover in June

Fri, 12 Jul 2019

By Victoria Young July 12 (BusinessDesk) - Manufacturing activity rose in June, thanks to a recovery in new orders which ensured the sector didn’t shrink. The Bank of New Zealand-Business NZ performance of manufacturing index rose 0.9 points to a seasonally adjusted 51.3 from May and is down from 52.7 a year earlier. While a reading above 50 indicates activity is expanding, this is the fourth consecutive month the index has been below the survey's long-term average of 53.4. BNZ described the activity as below par. “The latest...

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