NZ manufacturing bounces in May, PMI shows

Thu, 14 Jun 2012

By Hannah Lynch June 15 (BusinessDesk) - New Zealand's manufacturing sector expanded last month at the fastest clip for the month of May since 2006, led by production and new orders. The BNZ-BusinessNZ Performance of Services Index rose 7.5 points in seasonally adjusted terms to 55.7 in May from a month earlier. A reading of 50 separates a contraction from an expansion. All five of the sub-indexes expanded, led by production on 58.8 points and new orders on 57.3 points. Employment experienced a small decrease but remained in expansion on 52....

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