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Reuters

NZ manufacturing activity picks up pace in August - BNZ

(Reuters) - Manufacturing activity in New Zealand picked up pace in August due to a hefty expansion in production, while new orders strengthened, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 57.9 in August from 55.5 the previous month.

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

(Reporting by Ana Nicolaci da Costa; Editing by Chris Reese)

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