none

NZ manufacturing on a high

31-08-2010
by 
in 
NZ manufacturing on a high

While Australia’s manufacturing sector continues to struggle against a strong dollar and global economic uncertainty, our Pacific neighbours in New Zealand are powering ahead.

New Zealand’s manufacturing sector recorded its highest level of activity in almost two years and a record for the month of February, led by metal production and machinery.
 
According to the NZ Herald, the BNZ-BusinessNZ Performance of Services Index rose 6.9 points to 57.7 in February from a month earlier, with four of the five of the sub-indexes expanding. The expansion was led by new orders rising to 63.1 and production on 61.9, both at their highest level since 2004. Deliveries increased to 3.8 points to 54, the highest since August 2011.
 
Employment was little changed on 51.3 as was finished stocks on 49. A reading of 50 separates a contraction from an expansion.
 
One economist at the Bank of New Zealand described the February reading as a "stunning" result.
 
In the manufacturing industry sub-groups metal production improved significantly, reaching its highest value for the month on 59.7. Machinery and equipment manufacturing increased to 56.6, while food, beverage and tobacco showed moderate growth on 53.3.
 
Petroleum, coal, chemical and associated products reversed its decline from last month on 52.4.

Related news & editorials

  1. 19.03.2019
    19.03.2019
    by      In
    Newmont Mining Corporation’s Tanami Power Project has been completed safely and on schedule. The project, in the west of the Northern Territory, included the installation of two power stations, a 66kV interconnected power line and a 450km natural gas pipeline. The pipeline was built and will be... Read More
  2. 19.03.2019
    19.03.2019
    by      In
    Corio Bay Dairy Group (CBDG) is a joint venture between 100 per cent Australian farmer owned Organic Dairy Farmers of Australia (ODFA), Wattle Health Australia, and Blend and Pack.
    CBDG has commenced earthworks at Cowie St, North Geelong, building Australia’s first dedicated organic nutritional... Read More
  3. 15.03.2019
    15.03.2019
    by      In
    Flushed with success, Australian master distributor Control Logic took out all three awards from the prestigious Emerson Machine Automation Solutions 2019 Asia Channel meeting held in Shanghai. This was the company’s second consecutive successful year at the prestigious meeting, and included the “... Read More
  4. 15.03.2019
    15.03.2019
    by      In
    A circular economy represents a golden opportunity to combine corporate sustainability with profits, but is obstructed by weak chemicals legislations in every part of the world. In many cases, the corporate world is ahead of legislation, and the notion that there is a contradiction between... Read More