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Employment bucks New Zealand manufacturing growth trend

Xinhua, March 11, 2016 Adjust font size:

Growth in New Zealand's manufacturing sector slowed last month as job numbers fell, according to the latest performance of manufacturing index (PMI) out Friday.

The BNZ-Business New Zealand PMI for February was 56 -- on a scale where above 50 indicates expansion and below 50 contraction -- down 2 points from January.

It was still the third highest level of activity over the last 12 months and continued a straight run of expansion since October 2012.

The index was still healthy, but it showed a slight contraction in employment, which last occurred in December 2014, Business New Zealand executive director for manufacturing Catherine Beard said in a statement.

"Given the other sub-indexes of new orders and production remain very healthy, it will be interesting to see how employment growth plays out in the months to come," said Beard. Endit