Manufacturing activity in New Zealand jumped in May to its highest levels in a year and a half, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 58.5 from 56.9 in the previous month - its highest since January 2016 and far above the 50 threshold which marks an expansion in activity.
"It sets up the manufacturing sector to make a strong positive contribution to Q2 GDP growth," BNZ said in the report.
The data comes one day after growth data missed expectations, coming in at 0.5 percent in the first quarter, below market and central bank forecasts.
(Reporting by Ana Nicolaci da Costa, editing by G Crosse)
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