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

 


NZ manufacturing grows for 18th month, jobs outlook upbeat

NZ manufacturing expands for 18th month, signs of jobs growth in the sector

By Tina Morrison

March 14 (BusinessDesk) – New Zealand manufacturing activity expanded for an 18th straight month in February with signs a buoyant economy is creating jobs.

The BNZ-BusinessNZ seasonally adjusted performance of manufacturing index edged lower to 56.2 in February from an upwardly revised 56.3 in January, and 55.4 in February last year. A reading above 50 indicates expansion in the sector.

The latest index suggests the manufacturing sector’s upswing remains well in force into the early stages of this year, BNZ said. Over the past year, the employment index has jumped from a breakeven level of around 50 to 54.4 in the latest reading, which is close to a record for a sector that has tended to lag other measures.

“This is further evidence that the economic upswing is not only gathering momentum, and spreading across the various industries, but it’s now also fully radiating in the labour market,” said BNZ senior economist Craig Ebert. “The labour market data, while lagged, could well prove the most important macro-economic information this year.”

Four of the five main seasonally adjusted diffusion indexes in the PMI expanded in February. Production produced the highest level of expansion for the first time since July, while employment rose to its second highest level since May, deliveries remained similar to January while finished stocks increased slightly. Meantime, new orders slipped to its lowest level since June.

All four regions were in expansion during February, with only the Northern region slipping from January levels. Otago had the strongest reading at 61.7.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news