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

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news