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Labour shortage puts further squeeze on manufacturing index in June

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A further fall in manufacturing activity during June confirms the slide in business confidence isn’t just due to anti-government sentiment.

Skilled labour shortages are continuing to restrict capacity, as industry is facing increased demand.

The BNZ-BusinessNZ performance of manufacturing index (PMI) fell to a seasonally adjusted 52.8 in June from 54.4 in May.

This is the second successive monthly drop, taking the PMI to its lowest level since December 2017's reading of 51.

The employment component of index eased for a second straight month, dropping from 49.0 to........

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