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


Manufacturers in the north buoyant

Manufacturers in the north buoyant

Retailers are not the only ones enjoying buoyant Christmas trading conditions according to the latest ANZ - Business NZ Performance of Manufacturing Index (PMI) for November.

Not since the record setting December quarter of 1994 have manufacturers seen a period like the present one, reports the Employers & Manufacturers Association (Northern).

The view is based on the PMI results for October and November, and Statistics New Zealand's Economic Survey of Manufacturing for September.

Manufacturers in the north achieved another high on the PMI for production output without increasing staff to the same extent, said Bruce Goldsworthy, EMA's Manager of Advocacy and Manufacturing.

The PMI is an early indicator measuring manufacturing activity across several critical factors and allows for comparisons to be made with manufacturers in other regions in New Zealand, in Australia, the US, Japan and elsewhere. A reading above 50 indicates growth and below 50 indicates retraction, with the distance from 50 indicating relative strength or weakness.

"Unlike the export led growth of 1994, today's expansion is based as strongly on sales on the domestic market," Mr Goldsworthy said.

"Manufacturers' celebrations would be noisier except for the subduing effects of the rising NZ dollar.

"In particular the cross rate with Australia and the US is keeping the lid on expectations next year, with investment in new projects not achieving the levels necessary to lock in long term growth.

"Manufacturers in the north are outperforming their counterparts in other regions except central New Zealand. Their overall PMI of 65.4 for November is a solid advance on the 59.6 recorded in October, with high levels registered for new orders and production output.

"Some individual reports of trading conditions we have heard lately include: 'building is good, with no end in sight' and 'strong, with Australian building strong as well', 'exports are strong'; plastics: 'very busy', 'revenues 10% over budget' and 'brisk'; packaging: 'never been busier'; metal fabrications: 'going up'; Pharmaceuticals: ''good'; Industrial textiles: very buoyant domestically'."

© Scoop Media

Business Headlines | Sci-Tech Headlines


StuffMe: Commerce Commission Welcomes Dismissal Of Merger Appeal

In a summary of their judgment released today, Justice Dobson and lay member Professor Martin Richardson dismissed the appellants’ process criticisms and found the Commission was entitled to place significant weight on the prospect of reduced quality of the products produced by the merged entity. More>>


Dry: Beef + Lamb Launches Drought Resources

The resources include a fact sheet outlining strategies to manage and mitigate the effects of drought, coping with stress on the farm and advice on feed requirements and animal welfare during the dry period. More>>


InternetNZ: Net Neutrality Failure In US "Will Hurt All Users"

InternetNZ Chief Executive Jordan Carter has condemned the decision by the United States communications regulator to undo 2015 open Internet rules, warning that all Internet users will end up worse off as a result. More>>


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>