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


NZ manufacturing activity ebbs in July

NZ manufacturing activity ebbs in July while growing for 22nd straight month

Aug. 14 (BusinessDesk) - New Zealand manufacturing activity fell in July while remaining in expansion for the 22nd straight month as an increase in new orders made up for a dip in production and employment.

The BNZ-Business NZ seasonally adjusted performance of manufacturing index fell to 53 from last month from 53.3 in June from a downwardly revised 52.6 in May, although below 54.9 in June last year. A reading above 50 indicates expansion in the sector.

The manufacturing sector in New Zealand has proven resilient in the face of a strong New Zealand dollar, which erodes the value of overseas sales. Bank of New Zealand senior economist Doug Steel said. Those headwinds have receded as the kiwi has come off its highs and manufacturers are also likely to benefit from local sales into the construction industry, he said.

All five diffusion indexes in the PMI were in expansion in the latest month. New orders rose to 55 from 52.2 in June while production fell 1.9 points to 54, the lowest level since March last year. Employment fell 1.4 points to 51.3.

Finished stocks rose back into expansion at 51.5 while deliveries slipped 1.9 points to 53.3.

The Northern region recorded the strongest growth last month, rising 6.9 points to 57.5, while central fell to 46.6, the first contraction since January. Canterbury/Westland recorded 52.3 and Otago-Southland fell further into contraction at 45.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news