February 16, 2017 / 9:35 PM / 6 months ago

New Zealand manufacturing activity slows to 51.6 in January -BNZ survey

WELLINGTON, Feb 17 (Reuters) - Manufacturing activity dipped in January from the previous month as bad weather and the holiday season dented production, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) fell 2.6 points from December to 51.6, its slowest rate of expansion for two years.

A reading above 50 indicates an expansion in activity, while anything below that indicates a contraction. (Reporting by Charlotte Greenfield; Editing by Louise Ireland)

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