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New Zealand manufacturing activity dips in January -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A container is stacked in front of Wellington’s port terminal. There are also residential homes on the hill. July 2, 2017, Wellington. REUTERS/David Gray

WELLINGTON, (Reuters) – New Zealand’s manufacturing sector experienced a decrease in expansion during the first month 2022. A survey was released on Friday.

According to the Bank of New Zealand Business NZ, the seasonally adjusted Performance of Manufacturing Index(PMI), fell from 53.7 to 52.1 in March.

If the reading is above 50, it indicates activity growth. Anything below that threshold means contraction.

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