"The January result managed to show a small degree of
expansion during January, although whether the sector can keep
its head above water as we look further into 2023 remains to be
seen," BusinessNZ's Advocacy Director Catherine Beard said.
(Reporting by Renju Jose in Sydney; Editing by Chris Reese)
SYDNEY, Feb 10 (Reuters) - New Zealand's manufacturing
sector expanded in January after three consecutive months of
contraction, with gains recorded across most sectors, a survey
showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted
Performance of Manufacturing Index (PMI) rose to 50.8 in January
from 47.8 in December. New orders remained at 48.8, in line with
the month before.
A reading above 50 indicates manufacturing activity is
expanding, while anything below that threshold points to
contraction.
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