New Zealand Manufacturing Activity Growth Slows In January

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Business NZ said on Thursday that the BNZ - Business NZ performance of manufacturing index stood at a seasonally adjusted 52.0 in January, down from 53.0 in December. A reading above 50 indicates expansion, while one below 50 suggests contraction.

Two of the five component indices displayed expansion in January. The production sub-index at 52.3 and the new orders sub-index at 56.2 both remained in expansionary mode but the pace of growth slowed.

On the other hand, the employment sub-index remained in contraction at 49.6, while the finished stocks sub-index was at 46.9 and the deliveries sub-index was at 49.3.

Business NZ said on Thursday that the BNZ - Business NZ performance of manufacturing index stood at a seasonally adjusted 52.0 in January, down from 53.0 in December. A reading above 50 indicates expansion, while one below 50 suggests contraction. (Market News Provided by RTTNews)