NZ manufacturing activity shrinks for first time in seven years

Thu, 15 Aug 2019

By Paul McBeth Aug. 16 (BusinessDesk) - New Zealand manufacturing activity contracted for the first time in seven years as new orders dried up and job numbers tumbled. The Bank of New Zealand-BusinessNZ performance of manufacturing index dropped 2.9 points to 48.2 in July, falling below the 50 level that separates expansion from contraction for the first time since September 2012. Industrial production has been tapering off this calendar year, reflecting a cooling domestic economy and growing uncertainty for global trade. The New Zeal...

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