New Zealand manufacturing activity edges up in August

[WELLINGTON] Manufacturing activity in New Zealand rose slightly in August due to a rise in new orders and employment, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 55.0 from an upwardly revised 53.7 the previous month.

A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.

Three of the five sub-indices rose, with finished stocks also increasing, while deliveries and production fell.

REUTERS