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Reuters

Business

New Zealand's manufacturing activity picks up in October

WELLINGTON (Reuters) - Manufacturing activity in New Zealand recorded its highest level in four months in October, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 53.5 from 51.7 the previous month.

This was 1.6 points higher than September, and the highest level of activity since May.

A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.

(Reporting by Praveen Menon; Editing by Hugh Lawson)

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