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

 


Manufacturing flat, according to BNZ – BusinessNZ survey

Manufacturing flat, according to BNZ – BusinessNZ survey

Jan. 24 (BusinessDesk) – The property market may be taking off, but there is no sign of the manufacturing sector doing the same, according to the latest BNZ-Business New Zealand Performance of Manufacturing Index.

The December PMI was barely in positive territory at 50.1, up 1.3 points from November, but down on the readings in December 2011 and 2010.

BNZ described the overall index as showing “all but no change”, saying that when one sub-component was doing better another one was slipping away.

“There is certainly a bit to like in the production index rising to 52.5 from 49.6 in November,” BNZ said. A reading above 50 indicates expansion in activity.

But the new orders component slipped to 48.9 from 50.0 in the previous month, raising questions about the durability of demand.

“Such pluses and minuses are littered throughout the December PMI survey across industries, regions and firm size,” BNZ said.

“Indeed, this was the story of 2012 as a whole, as no one influence dominated the manufacturing sector.”

The flat manufacturing report comes after the latest Quarterly Survey of Business Opinion by the New Zealand Institute of Economic Research indicated the economy was recovering and reports of new records for residential property prices, particularly in Auckland.

The PMI survey shows a decline in inventory, which implies a pickup in demand.

The PMI employment index improved to 49.1 from 48.2 but it may be indicative of employment falling at a slower rather than a sign of outright pickup.

BusinessNZ’s executive director for manufacturing, Catherine Beard, said the December result was symptomatic of what manufacturers experienced in 2012.

“Five of the 12 months were in contraction, with only two months (February and May) showing any sufficient levels of expansion.

“However, despite the fairly unexciting result, comments by manufacturers remain more positive than negative,” she said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news