WELLINGTON, Aug 12 (Reuters) – Manufacturing activity in New Zealand expanded in July, but the manufacturing index remains short of its longterm average, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) nudged up to 52.7 from June's reading of 50.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction. The index's longterm average is 53.1.
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India's central bank is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants.
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