WELLINGTON: Manufacturing activity in New Zealand improved for the first time in five months, hitting an eight-month high driven by broad-based expansion across the strongly growing economy, a survey showed on Thursday.
The Bank of New Zealand-Business NZ's seasonally adjusted performance of manufacturing index (PMI) was 58.4 from an upwardly revised 56.5.
A reading above 50 indicates an expansion in activity, and below a contraction.
The index showed a solid rise in employment, but all other sub-indexes were also in expansion.
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