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New Zealand's manufacturing sector contracts, PMI falls below 50, signaling potential economic slowdown.
New Zealand's manufacturing sector contracted in May, with the BNZ-Business NZ PMI falling to 47.5 from 53.3 in April.
Manufacturers cited falling demand, weak orders, and rising costs as reasons for the decline.
Economist Doug Steel warns that this could signal a halt in the country's economic growth, noting weakening consumer confidence and potential official cash rate cuts.
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Los contratos del sector manufacturero de Nueva Zelanda, PMI, caen por debajo de 50, lo que indica una posible desaceleración económica.