Manufacturers had a surprisingly strong May, with employment growing for the first time since November 2008 and a solid lift in export and local sales, says a new survey.

Worrying signs of a stalling economic recovery have shown up in the latest Quarterly Survey of Business Opinion published this morning.

Economic activity grew 0.6 per cent in the March 2010 quarter, says latest GDP stats.

NZ's annual current account deficit reached its lowest level in more than two decades in the year to March, new figures show.

Phitek company founder and chief executive Mark Donaldson has lost his job at the helm of the tech company, as shareholders conduct a company-wide review of the business.

Specialist companies see big opportunities in store with prospects of a Russian trade deal.