The results of the Business NZ Performance of Manufacturing Index showed that the manufacturing sector in New Zealand slipped unexpectedly into contraction in July 2012, showing a score of 49.4. That's down from the revised reading of 50.0 in June 2012, which was originally pegged at 50.2.

A reading above 50 indicates expansion in a sector, while a reading below 50 signals contraction.

Among the individual components of the survey, new orders came in at 52.9, followed by production (49.6), deliveries (49.1), finished stocks (47.5) and employment (47.7).

Source - RTT News

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