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Manufacturing demand bounces strongly
Manufacturing demand bounces strongly back for Auckland
region
Auckland region manufacturers are enjoying a strong demand on the back of Christmas forward orders and record building consents in September.
While the ANZ/Business New Zealand Performance of Manufacturing Index (PMI) is 7.7 points ahead of the August result at 59.6, the Auckland region result up has shot ahead by 9.9 points to hit 62.1. (An index figure above 50 represents expansion; below 50 contraction).
"New orders in the northern region at 65.7 are running neck to neck with demand in Canterbury," said Bruce Goldsworthy, Manufacturing Services Manager for the Employers & Manufacturers Association (Northern).
"Production levels in the north are also at 65.7 with Canterbury in front on that measure at 72. Overall, Canterbury is slightly ahead of the Northern region with a total index value of 65.2.
"But we expect the strong manufacturing performance to continue as employment and stock levels of raw and finished materials in the north are lagging slightly behind demand.
"The cross rate
with Australia is also improving our competitiveness across
the Tasman."
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