WELLINGTON: Manufacturing activity in New Zealand fell back in July on the back of weaker employment and new orders, a survey showed on Thursday.
The Bank of New Zealand-Business NZ’s seasonally adjusted Performance of Manufacturing Index (PMI) fell to 53.5 from a downwardly revised 55.1 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction. Four of the five sub-indices decreased, although they remained in expansion, while finished stocks edged higher.
