WELLINGTON, March 17 (Reuters) - Manufacturing activity in New Zealand jumped in February, aided by a weaker kiwi dollar, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 55.2, from 52.2 for January, touching its highest level since September 2016.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
"February’s PMI is particularly encouraging in suggesting the weak manufacturing result we saw in yesterday’s Q4 GDP report was transitory rather than the start of a genuine struggle," BNZ senior economist Craig Ebert said in a research note.
New Zealand's economy grew slower than expected in the last quarter of 2016, partly due to a surprise fall in manufacturing output.
