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Reuters

New Zealand manufacturing activity remains in contraction

WELLINGTON (Reuters) - Manufacturing activity in New Zealand edged up but remained in contraction for the second consecutive month in August due to declines in new orders, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) in August rose slightly to 48.4 from 48.2 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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