WELLINGTON (Reuters) - Manufacturing activity in New Zealand expanded at the slowest rate in six months in June, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell to 52.8 from 54.5 the previous month.
"Broadly speaking, the PMI has settled down into a trend-like pace this year, averaging 53.8 ... This is after outperformance through most of 2017 when it averaged 56.2," said BNZ senior economist Craig Ebert.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
(Reporting by Charlotte Greenfield)
