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Summer slowdown – NZ PMI
New Zealand's level of manufacturing expansion slowed during December, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for December was 51.2 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 6.5 points down from the previous month, and the lowest result since December 2012. Despite the drop from November, the sector has remained in expansion in all months since October 2012. BusinessNZ's executive director for manufacturing Catherine Beard said that while it was disappointing to see the last ... (full story)