Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Canterbury Manufacturers in August PMI results


Canterbury Manufacturers in August PMI results

The PMI survey completed by Business New Zealand and supported by the Canterbury Manufacturers’ Association rolls in a bigger sample than the CMA business survey and is index based. “Whilst our own survey is smaller we do ask more questions and work with real sales figures,” said John Walley, CEO of the Canterbury Manufacturers' Association. “Reading the two surveys together makes for better understanding of what might be going on in the manufacturing sector locally and across New Zealand.”

“Our own respondents tend to be in the higher added value area and this could skew our subset of the wider survey, but we have been on the scene for a while and have pretty well demonstrated the leading indicator nature of our own survey,” said Mr Walley.

Canterbury appears to leads the charge with strong growth in forward orders which would probably be a proxy for our confidence measure. However the CMA survey data allows a deeper look and the 60/40 split in sales decreases to sales increases, when taken with our leading indicator of sales falling, perhaps paints a softer and more worrying forward picture.

“The Council of Canterbury Manufacturer’s Association thinks that further out the future is not so comforting and that lifting the importance and performance of the manufacturing sector is vital to the stronger economic development of New Zealand,” said John Walley.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>