New Zealand manufacturing activity eases in July

[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.

REUTERS