A latest survey has suggested that though last month, the contraction was at its slowest rate since September, still the manufacturing activity continues to shrink in New Zealand.
A seasonally adjusted reading of 43.7 for its performance of manufacturing index was included in the BNZ Capital -- Business NZ April survey of the manufacturing sector.
Though that is higher 1.8 points from March, however it is still 7 points under the previous lowest April figure. It should be noted that any reading below 50 indicates activity is contracting.