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

 


Manufacturing sector a consistent achiever

14 March 2014

Consistent achiever

New Zealand’s manufacturing sector remains at a consistent level of solid expansion, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for February was 56.2 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). The sector has now been in expansion for 18 consecutive months, with the last five months in a tight expansionary band between 56.0 and 56.9.

BusinessNZ’s executive director for manufacturing Catherine Beard said that the PMI is currently going through one of its most stable periods of expansion since the survey began.

“The last six months of manufacturing expansion have remained at the 56 point value, which represents a very solid level of activity. Although new orders slipped somewhat in February, production remains buoyant, while employment has shown more positive growth for two of the last three months.”

BNZ senior economist Craig Ebert remarks on the real news in the latest PMI – its employment index, which is close to a record high for this sector since 2003. “This is evidence that the economic upswing is gaining momentum, spreading across industries and fully radiating into the labour market.”

Four of the five seasonally adjusted main diffusion indices continued to be in expansion during February. Production (58.9) produced the highest level of expansion for the first time since July 2013, as new orders (56.9) slipped to its lowest level since June 2013. Employment (54.4) rose 3.2 points to record its second highest level since May 2013. Deliveries of raw materials(58.1) was similar to January, while finished stocks (49.2) increased slightly from the previous month.

All four regions were in expansion during February. In the North Island, the Northern region (52.9) slipped 0.2 points from January, and its lowest level of activity since April 2013. In contrast, the Central region (57.3) picked up from two identical sub-50 monthly values. In the South Island, the Canterbury/Westland region (53.7) picked up 0.7 points from January, while the Otago-Southlandregion (61.7) rose 5.3 points.

Click here to view the February PMI.
Click here to view seasonally adjusted & unadjusted time series

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news