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

Fri, 13 Jun 2014

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...

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