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Reuters
Reuters
Business

New Zealand manufacturing activity slows in August

FILE PHOTO: Construction workers unload equipment at a building site for a residential apartment block in central Wellington, New Zealand, July 3, 2017. REUTERS/David Gray

Expansion of New Zealand's manufacturing activity dropped during August due to a lockdown in the country's biggest city, Auckland, due to a second wave of coronavirus infections, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) in August was 50.7 compared to 58.8 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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