NZ manufacturing slows, hiring reduced – MSN

NZ manufacturing slows, hiring reduced – MSN

New Zealand’s manufacturing activity extended its run of expansion for another month in June – but at a slower pace, as firms reined in hiring amid growing labour shortages.

The BusinessNZ-Bank of New Zealand performance of manufacturing index fell 2 points to a seasonally adjusted 56.2 in June, extending its run of expansionary readings above 50 in every month since October 2012.

The employment sub-index dropped 5.5 points to 49.5, the first time since the sector contracted since November last year and falling from a 31-month high.

By MSN

http://www.msn.com/en-nz/news/finance-business/nz-manufacturing-slows-hiring-reduced/ar-BBEmVDm?ocid=News

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