New Zealand’s manufacturing is “muddling” along as activity contracted last month in anticipation of a pick-up next year when Canterbury’s reconstruction effort gathers pace. The Bank of New Zealand-Business New Zealand performance of manufacturing index fell 1.5 points to 48.8 in November, where a reading below 50 indicates a contraction of activity, and a figure above 50 implies expansion. The …

New Zealand food prices fell for the third straight month in November, driven by seasonally low prices for vegetables such as tomatoes, broccoli and lettuce. Meat prices also fell. The food price index fell 0.8 percent last month, for an annual decline of 0.6 percent, according to Statistics New Zealand. Prices of vegetables dropped 11 percent while fruit rose by …

Infratil manager HRL Morrison & Co, chief investment officer Lib Petagna and trusts associated with the Morrison family have sold 10 million shares in the Wellington-based infrastructure investor to institutional and high net worth investors. Morrison & Co and the Morrison family didn’t disclose what price they sold at, but Petagna sold 1 million shares for $2.25 million, or $2.25 …