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New Zealand manufacturing activity rises in June

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Manufacturing activity in New Zealand rose in June due to higher production and new orders, a survey showed on Thursday.

[WELLINGTON] Manufacturing activity in New Zealand rose in June due to higher production and new orders, a survey showed on Thursday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 55.2 from an upwardly revised 52.0 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 increased, with employment and deliveries also rising, while finished stocks eased.

REUTERS