New Zealand's manufacturing activity slowed for a second month in June to the lowest level in six months, as the employment index contracted for a second straight month and the production measure fell to its lowest point since January.
New Zealand's manufacturing activity accelerated in April, bouncing back from a lull in the first three months of the year, as a pick up in building intentions stoked production among building materials companies.
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The New Zealand Institute of Economic Research's (NZIER) March Quarterly Survey of Business Opinion (QSBO) showed businesses were at their most confident in 20 years and were trading at similar levels to those seen December 2003 when GDP was growing at nearly 4.5%.
For the fourth year in a row more businesses closed than opened, with manufacturing taking one of the biggest hits, Statistics NZ said in its Business Demographics report for the year to the end of February.