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Employment slowdown in New Zealand slow manufacturing activity growth in May

Manufacturing activity growth in New Zealand eased in May due to a slowdown in employment, a survey showed on Friday.


Reuters 14 Jun 2018, 10:47 PM New Zealand
  • The contracting employment sub-index dragged on the overall result. (Image Credit: Pixabay)

Manufacturing activity growth in New Zealand eased in May due to a slowdown in employment, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell 4.6 points from the previous month to 54.5. The contracting employment sub-index dragged on the overall result, though the index remained at historically high levels.

A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.

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