New Zealand manufacturing improves a touch in March -Breaking
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WELLINGTON (Reuters] – New Zealand’s manufacturing activity improved in March thanks to positive employment and strong orders, a survey revealed on Thursday.
Seasonally adjusted Performance of Manufacturing Index (PMI), at Bank of New Zealand Business NZ, rose to 53.8 from the 53.6 previous month.
If the reading is above 50, it indicates activity growth. Anything below that threshold means contraction.
The survey found that March saw a significant increase in negative comments than positive ones. This was due to businesses being frustrated by supply-side problems and concerned about price inflation.
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