Waikato manufacturers claw way back to expansion

Manufacturing activity returned to growth mode in July in the Waikato, registering 52.9 on the BNZ Business NZ Performance of Manufacturing Index (PMI), reported EMA Waikato chair Jack Ninnes.

Mr Ninnes said the small increase was welcome news though from a low base.

“Production levels are showing a solid improvement at 57.8 on the PMI,” he said.

“There’s manufacturing confidence evident too with deliveries of raw materials up to 59.4 which is a huge jump back from 36.5 last month.

“With New Orders in positive territory at 51.6, (above 50 indicates expansion, below 50, contraction) and stocks of finished goods running low at 43.8, the pointers are all towards growth being maintained.”

ENDS

© Scoop Media