NZ manufacturing slips deeper into contraction in August

Wed, 12 Sep 2012

Sept. 13 (BusinessDesk) - New Zealand’s manufacturing sector fell further into contraction last month, with employment at its lowest since July 2009, suggesting weaker demand in key export markets and a resilient kiwi dollar are hurting companies. The BNZ-BusinessNZ performance of manufacturing index (PMI) fell 2.2 points to 47.2 in August from July, when the index slipped below 50 for the first time in three months. A level of 50 marks the difference between contraction and expansion. All five seasonally adjusted diffusion indexes in the PMI...

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