
WELLINGTON (Reuters) - Manufacturing activity growth in New Zealand slowed in March due to flat production, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell to 52.2 from 53.4 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
"The weak spot in March's PMI was its production index. With a seasonally adjusted outcome of 50.8 this was close to stalling," said BNZ senior economist Craig Ebert in a statement.
(Reporting by Charlotte Greenfield)