SYDNEY, Sept 11 (Reuters) – New Zealand’s manufacturing activity continued to expand in August, though at a slower pace than the previous month, as businesses cited cost-of-living pressures and the Middle East conflict as factors weighing on growth.
The Bank of New Zealand-BusinessNZ seasonally adjusted Performance of Manufacturing Index dipped to 53.1 in August, down from 54.3 in July, though it remains above the survey’s long-term average of 52.5.
A reading above 50 indicates manufacturing activity is expanding, while a reading below that signals contraction.
(Reporting by Renju Jose in Sydney; Editing by Chris Reese)
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