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Waikato manufacturers buck national trend: PMI
Wednesday, April 10th, 2008
Waikato manufacturers buck national trend: PMI
Manufacturing activity in the Waikato bucked the national downward trend in March, according to the BNZ, Business New Zealand Performance of Manufacturing Index (PMI)
EMA Waikato chairman Jack Ninnes said manufacturing activity clearly reflects the fortunes of the dairying sector in the region.
“The PMI for Waikato this month was 55.2 compared with the national result of 48.3. (Above 50 represents expansion, below 50 contraction.)
“High interest rates and the higher exchange rate are certainly holding back our manufacturers ambitions for growth,” Mr Ninnes said.
“But the index for Waikato showed both production and employment levels at 57.4 and that’s encouraging.
“Not so positive is the out turn for New Orders at 50, and Stocks of Finished Goods which are high at 63.
“Overall the outlook is that the region will remain busy, particularly with the V8 super cars coming to Hamilton soon.”
ends
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