WELLINGTON (Reuters) - Manufacturing activity in New Zealand expanded in July, but the manufacturing index remains short of its longterm average, a survey showed on Friday.
WELLINGTON (Reuters) – Manufacturing activity in New Zealand expanded in July, but the manufacturing index remains short of its longterm average, a survey showed on Friday.
The Bank of New Zealand-Business NZ’s seasonally adjusted Performance of Manufacturing Index (PMI) nudged up to 52.7 from June’s reading of 50.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction. The index’s longterm average is 53.1.
(Reporting by Lucy Craymer; Editing by Leslie Adler)
Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: