New Zealand manufacturing picks up but remains in contraction
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MANUFACTURING activity in New Zealand picked up in April but still remains in contraction, a survey showed on Friday.
The Bank of New Zealand-Business NZ’s seasonally adjusted Performance of Manufacturing Index (PMI) rose to 48.9 in April from 46.8 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction. REUTERS
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