none

NZ MANUFACTURING RISES TO 15-MONTH HIGH

19-11-2014
by 
in 

New Zealand manufacturing activity has accelerated for a fifth month to a 15-month high as a strong domestic economy supports local activity.

THE BNZ-Business NZ performance of manufacturing index rose 0.8 points to a seasonally adjusted 59.3 in October from September, reaching the highest level since July 2013.

Manufacturing activity remained above the key 50 expansion level in all five sub-indices in October, and across all four of the country's regions.

Growth in the New Zealand economy is supported by strong migration-fuelled population growth and evident in data showing increasing electronic card spending and rising non-residential construction activity, the BNZ said.

"Domestic demand indicators provide a positive backdrop for manufacturing," BNZ senior economist Doug Steel said.

"Confidence and activity indicators remain upbeat. On the downside, an anticipated marked drop in dairy sector revenue is expected to be a headwind."

Food, beverage and tobacco manufacturing showed the strongest expansion at 74, followed by machinery and equipment manufacturing at 62.2, and textile, clothing, footwear and leather manufacturing at 60.7.

Petroleum, coal, chemical and associated product manufacturing was at 58.8 and metal product manufacturing at 58.3.

Related news & editorials

  1. worker
    07.05.2021
    07.05.2021
    by      In , In , In
    A $325,000 government grant has helped regional Victoria’s largest co-packing business increase its productivity through the introduction of an innovative product line and new automated equipment. 
    The grant, from the Agriculture Workforce Plan, has also enabled the Australian Disability Enterprise... Read More
  2. Angus Taylor
    06.05.2021
    06.05.2021
    by      In
    The Australian Government has given the green light to the construction of three large hydrogen plants in Victoria and Western Australia that will be among the world’s biggest.
    More than $100 million in conditional funding has been awarded through the Australian Renewable Energy Agency’s (ARENA)... Read More
  3. Lab
    05.05.2021
    05.05.2021
    by      In , In
    Newly launched space startup Quasar Satellite Technologies is set to revolutionise space communications, using radio telescope technology developed by the CSIRO. 
    With more than 57,000 satellites set to be launched by the end of the decade, Quasar is creating a world-leading ground station service... Read More
  4. 29.04.2021
    29.04.2021
    by      In
    In memory of Mr Lapp, the founding family set up the Oskar Lapp Foundation in 1992. This provides young scientists with incentives to effectively engage them in cardiovascular research. The Oskar Lapp Research Prize, worth 12,000 Euro, is presented annually, while the Oskar Lapp Grant, which... Read More
Products
Suppliers