NZ manufacturing activity expands on month in April but down on year

NZ manufacturing activity expands on month in April but down on year
Rebecca Howard
By Rebecca Howard May 17 (BusinessDesk) - New Zealand's April manufacturing activity expanded versus March but was well down on the year as demand growth continues to cool. The Bank of New Zealand-Business NZ performance of manufacturing index rose 1 point to a seasonally adjusted 53 in April but was down from a 59 reading in the same month a year earlier. A reading above 50 indicates activity is expanding and the long term average is 53.4.  BusinessNZ’s executive director for manufacturing Catherine Beard said that while the improveme...

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