WELLINGTON (Reuters) - Manufacturing activity in New Zealand expanded at a slower pace in January due to the quieter holiday months and a softening in customer orders, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell to 53.1 from 55.1 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
(Reporting by Charlotte Greenfield and Praveen Menon; Editing by Lisa Shumaker)
