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

 


Northern Manufacturers Lead Growth

Media release

Northern manufacturers lead growth

Manufacturers in the north of the country were the fastest growing in August, for the second time in the past three months. They registered an increase of 0.5 over July to reach 61.1, according the ANZ-Business New Zealand Performance of Manufacturing Index (PMI).

An early build up to the Christmas season is reported as a principal reason for the expansion, with skills shortages and adverse weather cited as constraints on further growth.

Overall in August New Zealand manufacturing expanded 1.3 points on the PMI to 58.8, stronger than in the previous years. (A PMI above 50 indicates expansion and below 50 decline).

"With the new orders sub index (66.5) exceeding the total, and stocks of finished goods (59.9) below it, manufacturers are expecting the good run to continue," said Bruce Goldsworthy, Manufacturing Services Manager for the Employers & Manufacturers Association (Northern).

"Employment levels in manufacturing have scarcely changed lately though many firms are reporting they are running at capacity.

"Other things being equal, a surge of investment in new plant and equipment should follow, with skills training continuing to build.

"Indeed, a large chunk of the 7.5 per cent increase in sales of New Zealand made machinery and equipment recorded in the June quarter in the Economic Survey of Manufacturing will be in response to local investment orders.

"Sales of locally made investment machinery and equipment reached $6.3 billion for the year ended June, with about 60 per cent going to boost local production and the other $2.4 billion exported."

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news