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Reuters
Reuters
Business

New Zealand manufacturing activity contracts in December

FILE PHOTO: Recently completed residential apartment blocks are seen behind a construction site in central Auckland, New Zealand, June 25, 2017. REUTERS/David Gray

Manufacturing activity in New Zealand fell back into contraction in December, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell to 49.3 from 51.2 in the previous month.

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

(Reporting by Praveen Menon; Editing by Chris Reese)

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