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flag New Zealand's manufacturing sector contracts, PMI falls below 50, signaling potential economic slowdown.

flag New Zealand's manufacturing sector contracted in May, with the BNZ-Business NZ PMI falling to 47.5 from 53.3 in April. flag Manufacturers cited falling demand, weak orders, and rising costs as reasons for the decline. flag 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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