NZ manufacturing falls for second month in May, as new orders decline, inventories rise

NZ manufacturing falls for second month in May, as new orders decline, inventories rise
By Tina Morrison June 13 (BusinessDesk) - New Zealand manufacturing activity fell for a second consecutive month in May to the lowest level in 17 months, with a decline in new orders and a rise in inventory suggesting demand is waning. The BNZ-Business NZ seasonally adjusted performance of manufacturing index fell to 52.7 in May from a downwardly revised 54.4 in April, and 57.6 in May last year. A reading above 50 indicates expansion in the sector. The measure of new orders dipped to its lowest since December 2012 while inventories ros...