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New Zealand Manufacturing Sector Slows In July

The manufacturing sector in July continued to expand in July, albeit at a slower rate, the latest survey from Business NZ said on Friday with a Performance of Manufacturing Index score of 55.4.

That's down from the downwardly revised 56.0 in June (originally 56.2), although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

"Expansion across the five indices was very even for July, with the total difference between the lowest and highest results at only 1.2 points. Of particular note was the highest level of expansion for employment (56.4) since September 2014, along with finished stocks (also at 56.4). However, both production (56.0) and new orders (55.4) continued to slip in terms of expansion," said Catherine Beard of Business NZ.

by RTT Staff Writer

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