NZ manufacturers handling high kiwi better than expected, English says

Thu, 11 Apr 2013

By Paul McBeth April 11 (BusinessDesk) - Local manufacturers are dealing with the record-high exchange rate better than expected in their race to stay profitable as the strong kiwi erodes their returns, Finance Minister Bill English says. BNZ-BusinessNZ's performance of manufacturing index today showed the sector grew for a fourth month in March in spite of a strong currency eating into export receipts, and English says they deserve credit for how well they've handled "the highest average exchange rate we've had since the second world war."...

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