World Economy

NZ Industrial Sector Strengthens

NZ Industrial Sector StrengthensNZ Industrial Sector Strengthens

A closely-watched measure of New Zealand’s manufacturing economy strengthened in March, offering further evidence that the recent factory slowdown was only temporary, reported. The business NZ performance of manufacturing index came in at 57.8 in March, after rising to 55.7 the previous month. Although domestic manufacturing conditions have remained generally favorable for the better part of four years, growth began to slow at the start of the year. Gross domestic product expanded just 0.4% in the fourth quarter, following a downwardly revised 0.8% increase in the third quarter. Manufacturing was a negative contributor to the economy in the final three months of 2016.

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