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Reuters
Reuters
Business

New Zealand manufacturing growth slows in March - BNZ survey

FILE PHOTO - A New Zealand Dollar note is seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

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)

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