WELLINGTON, April 14 (Reuters) – Manufacturing activity in New Zealand in March improved a tad due to strong new orders and positive employment, a survey showed on Thursday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 53.8 from 53.6 the previous month.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
However, the survey notes that negative comments outweighed positive comments in March by a factor of two to one with businesses frustrated with supply side troubles and worried about cost inflation.
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Significant volumes of unwanted Russian-origin copper have been deposited in London Metal Exchange approved warehouses in Germany, the Netherlands and Taiwan since the middle of September, two sources familiar with the matter said.
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