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

 

Manufacturing activity eases after seasonal rush

Media release
30 January 2004

Manufacturing activity eases after seasonal rush

New Zealand manufacturing conditions eased during December, according to the latest ANZ-Business NZ Performance of Manufacturing Index (PMI).

New Zealand recorded an overall PMI value of 54.0 for December 2003 (a PMI reading above 50 points indicates expansion and below 50 indicates decline). While this was 10.4 points down from the November value, this is consistent with the usual Christmas pattern. On an annual basis the PMI was 2.4 points lower than in December 2002.

Three of the five sub-indexes recorded expansion in December (production, new orders and deliveries). The employment sub-index indicated slight decline from a peak in November. The decline in the finished stocks sub-index is an indication of high inventory turnover due to strong sales.

Three of the four regions recorded expansion, with Canterbury/Westland again indicating strong expansion. The Central region indicated a slight decline.

Demand at a domestic level during the Christmas period was considered strong by many firms, although the continued upward movement of the New Zealand dollar against the US dollar continues to undermine export returns.

Full results are available on http://www.anz.co.nz under 'ANZ Spotlight/Economics' and on http://www.businessnz.org.nz under 'PMI Reports'.

The ANZ-Business NZ PMI (performance of manufacturing index) is sponsored by business banking specialist ANZ Banking Group (NZ) Ltd and draws on the depth of member companies associated with Business NZ: EMA (Northern), EMA (Central), Canterbury Employers' Chamber of Commerce and Otago Southland Employers' Association.

ENDS


© 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>>