July 17 (Reuters) - Manufacturing activity in New Zealand moved back to expansionary territory in June after three months of contraction, helped by an easing of coronavirus-driven lockdowns and mobility restrictions, a survey showed on Friday.
The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) rose to 56.3 from 39.8 in May and 26 the month before.
This is the best result since April 2018.
A reading above 50 indicates an expansion in activity, while anything below that threshold indicates a contraction.
BusinessNZ's executive director for manufacturing Catherine Beard said she welcomed the return to expansion but struck a cautious note.
The "one expansionary result does not represent a trend given ongoing offshore uncertainty around COVID-19," she said. "A consistent trail of new orders over the coming months would go a long way towards ensuring the second half of 2020 is better than the first".
New orders jumped to 58.6 in June from 39.5 in May.