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

 


NZ manufacturing expands for 15th month in December

NZ manufacturing expands for 15th month in December

Jan. 23 (BusinessDesk) - New Zealand manufacturing activity expanded for a 15th straight month in December, with more production likely in the coming year on strong new orders and dwindling inventories.

The BNZ-BusinessNZ seasonally adjusted performance of manufacturing index slipped to 56.4 from 56.7 in November, but was up from 50.7 in December 2012. A reading above 50 indicates expansion in the sector. New orders led activity at 61.4 in December from 62 a month earlier, while production was at 57.2 from 59.4 in November. Finished stocks contracted for the first time since April, with a reading of 48.6. Employment rose to 55.2 from 53.3 and deliveries of raw materials fell to 52 from 56.7 in November.

“The combination of strong new orders and falling inventory in the PMI is a positive indicator for more production ahead,” BNZ economist Doug Steel said in a report accompanying the release. “Manufacturing growth might well surprise on the high side given that the difference between the PMI new orders and inventory indicators is at its widest since 2004.”

Government figures last month showed the country’s manufacturing sector grew 1.5 percent in the September quarter, underpinned by strong dairy food production. Accelerating construction activity is expected to spill over into more manufacturing.

The December PMI showed activity among food, beverage & tobacco manufacturers at 58.7, machinery & equipment manufacturing at 56.3 and petroleum, coal, chemical and associated products activity at 54.4. Metal product manufacturing activity shrank, with a reading of 49.

The Northern region led activity with a reading of 60.1, followed by Otago-Southland at 58.3. Activity in the Central and Canterbury/Westland regions contracted, with readings of 48.8 and 49.9 respectively.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>


BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

TDDA: State-Of-The-Art Drug Testing Laboratory To Open In Auckland

World leading drug testing agencies, The Drug Detection Agency (TDDA) and Omega Laboratories, open New Zealand laboratory More>>

Network: Bigpipe Launches Ultra-Fast Broadband Into Wellington

Bigpipe Launches Ultra-Fast Broadband into Wellington Naked broadband provider Bigpipe has extended its national reach, announcing today, the launch of its unlimited UFB offering into Wellington. The Spark Venture business is giving Wellingtonians the ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news