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

 


Autumn tinge

Autumn tinge

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

The seasonally adjusted PMI for April was 55.2 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 2.8 points lower than March, although similar to results experienced over the last eight months. The sector has now been in expansion for 19 consecutive months, with the first third of 2014 averaging 56.4.

BusinessNZ’s executive director for manufacturing Catherine Beard said although the level of expansion wasn’t as strong as the previous month, activity was still healthy and positive across most of the sub-indices recorded.

“Comments from respondents remained more positive than negative, although a contributing factor to the lower level of expansion that came through was the lower number of working days in April because of the Easter/ANZAC break.”

BNZ economist Doug Steel said, “Despite what looks like a holiday-induced slowdown in April, the trends in the PMI are strong and especially so in employment. Buoyant construction and agriculture sectors look supportive on the demand side.”

Four of the five seasonally adjusted main diffusion indices were in expansion during April. Production (55.3), deliveries (55.3) and new orders (55.2) displayed almost identical levels of expansion, while employment (54.5) returned to levels seen in February. Finished stocks (49.3) were the only index to show any level of contraction, and returned to levels seen in February.

All four regions were again in expansion during April, although differences were evident. In the North Island, the Northern region (53.0) decreased 6.2 points, while the Central region (51.3) fell 6.3 points after consecutive months above 57.0. In the South Island, the Canterbury/Westland region (50.1) only just managed to remain in positive territory, while the Otago-Southland region (57.7) dipped a further 2.1 points.

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

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news