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


Waikato manufacturers’ retrenchment accelerates

Media statement                      Thursday, October 16th, 2008


Waikato, BoP manufacturers’ retrenchment accelerates

The Performance of Manufacturing Index for Waikato and Bay of Plenty manufacturers slid further below the 49.9 figure struck in August down to 42.8 last month.

EMA Waikato, the Employers & Manufacturers Association in Waikato, reported that the latest Bank of New Zealand/Business NZ PMI signaled gloomier times ahead.

“Every point below 50 on the PMI indicates further weakening in the sector,” said Jack Ninnes, Chairman of EMA Waikato

“The PMI’s rapid fall in September reflected further softening in consumer demand in New Zealand and weak demand conditions globally.

“What’s worse is that the index for New Orders skidded down from 50.0 in August to 37.1 in September while stocks of finished goods blew out to 68.6.

“It’s clear the weak level of activity is likely to persist.

“Employment levels also fell on the PMI to 41.4; the only bright thing about that is several employers report that good staff are new becoming available.”



© Scoop Media

Business Headlines | Sci-Tech Headlines


Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>

Air New Zealand: Business Travellers Return To The Skies In Record Numbers

After a year of talking to a computer, Kiwis are leaving the office to re-connect with their clients, suppliers, and staff. New figures released by Air New Zealand show domestic business and corporate travel has defied global trends by returning ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>

Commerce: House Values Continue To Climb As New Government Measures Announced

The Government’s new initiatives to quell the rocketing housing market were announced last week, just as house prices hit a new high for the end of March. The average value increased 7.8% nationally over the past three-month period, up from the 6.8% ... More>>