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

 

Big lift in Waikato/Bay of Plenty in manufacturing


Big lift in Waikato/Bay of Plenty in manufacturing action

Waikato and Bay of Plenty manufacturing registered a big expansion in June according to the latest ANZ-Business NZ Performance of Manufacturing Index (PMI).

The Waikato and Bay of Plenty Regions PMI bounded up from 54.5 in May to 69.2 in June. A PMI reading above 50 indicates expansion; below 50 indicates decline.

All five sub-indices rose in June, led by production levels and new orders (72.7!) New orders has been the highest sub-index throughout 2004 giving rise to the prospect of further expansion to come.

The employment levels index at 61.8 has shown a welcome boost too from the previous month (50.0).

Margaret Comer, chair of EMAWaikato, said the signs for growth are encouraging despite manufacturers facing more compliance costs, the high Kiwi dollar, and especially the difficulties in attracting skilled employees.

"Waikato and Bay of Plenty has benefited strongly from the confidence on display at the recent field days," she said.

"That gave manufacturers increased orders to add to the growth cycle, and feed back into higher living standards in the community.

"Some companies are finding they now have to cope with sudden cost pressures as metal and fuel prices rise as demand surges in the U.S. and China.

"The Australian manufacturing scene in June saw demand pegged back in June with rising costs easing Australia's PMI down to 50.6, well below the BOP and Waikato region."

© 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>>

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:

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>>

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>>