NZ manufacturing surges to five-year high, easing a long soft patch

The jump in New Zealand's manufacturing PMI from 51.3 to 59.7 marks a sharp break from months of soft, near-stagnant readings and points to a broadening domestic demand recovery heading into the second half of the year. Every sub-index moved firmly into expansion, with new orders at 64.1 suggesting the pickup has momentum rather than being a one-month blip,…

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