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


Market conditions tighten for manufacturing

Market conditions tighten for manufacturing

For the second consecutive month output of manufacturers in the top half of the North Island where half the country's manufacturing takes place, has contracted.

The Employers & Manufacturers Association (Northern) reports the ANZ-Business NZ leading PMI indicator shows manufacturers are maintaining production levels by stockpiling finished goods.

"The PMI reveals the economy is on the turn," said Bruce Goldsworthy, EMA's Manager of Manufacturing Services.

"Ominously Australia's manufacturers are expanding at the same time as ours are cutting back. Australia's PMI for April was 54.8; New Zealand's overall 49.3.

"Australia's manufacturing strength in their own market is intensifying the competition for our manufactured exports there, which are worth $5 billion annually, at the same time as demand locally is slipping.

"The slow down is affecting all sizes of firm with those in the north most affected.

"In New Zealand manufacturing grew output in just one region last month - Canterbury/Westland.

"In the north manufacturers have been shedding staff though new orders have remained positive."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


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>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

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>>


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>>