WELLINGTON, May 12 (Reuters) - New Zealand's
manufacturing sector contracted again in April but at a slower
pace than the previous month, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted
Performance of Manufacturing Index (PMI) was at 49.1 in April
from 48.1 in March. New orders were at 49.8 from 46.9 in the
prior month.
A reading above 50 indicates manufacturing activity is
expanding, while anything below that threshold points to
contraction.
BNZ senior economist Doug Steel said New Zealand’s PMI may
be soft but it is broadly in line with the 49.6 reading for the
global equivalent in April.
(Reporting by Lucy Craymer
Editing by Chris Reese)
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