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

 

Further Fall In Manufacturing Activity

27 February 2004

Further fall in manufacturing activity

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

New Zealand recorded an overall PMI value of 51.4 for January 2004 (a PMI reading above 50 points indicates expansion and below 50 indicates decline). This was 2.6 points lower than the level recorded the previous month but close to the January 2003 value of 51.6. Despite the fall in January, the index nevertheless recorded slight expansion, with the fall-off in activity after Christmas a feature of the seasonal pattern in the aftermath to the lead-up to Christmas.

Four of the five sub-indexes recorded expansion in January (production, new orders, finished stocks and deliveries). While the finished stocks sub-index recorded slight expansion, its low value continues to indicate high inventory turnover due to strong sales.

Only Canterbury/Westland indicated strong expansion. The other three regions recorded no significant change.

The continued upward movement of the New Zealand dollar against the US dollar remains a strong concern among manufacturers. Some firms noted that labour shortages have restricted their ability to respond to new orders.

Full results are available on www.anz.co.nz under 'ANZ Spotlight/Economics' and on 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>>