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. 20.09.2018
    20.09.2018
    by      In
    Control Logic has set its sights on expansion, with a new leadership team incorporating key roles in products and marketing, sales and development, and operations and services. The move aims to increase the company’s skill set and focus to drive innovation and expand the company’s expertise and... Read More
  2. 19.09.2018
    19.09.2018
    by      In
    The Australian Made Campaign is providing some valuable support for the nation’s furniture manufacturers with its latest initiative, which urges local buyers to ‘take comfort in their purchase’ and choose genuine Aussie furniture, bedding and furnishings this spring.
    According to Australian Made... Read More
  3. 12.09.2018
    12.09.2018
    by      In
    Siemens has unveiled its new manufacturing facility in Yatala (Queensland), which has been set up to support the growing global demand for the locally developed Fusesaver medium-voltage circuit breaker.
    The new factory is part of an ongoing $25 million investment in manufacturing and research of... Read More
  4. 11.09.2018
    11.09.2018
    by      In
    APS Industrial has relocated its Melbourne base into an all-new 4500m2 head office and national distribution centre in Rowville. The new facility includes an interactive product showcase room and state of the art conference facility.
    According to APS Industrial MD David Hegarty, “Since our launch... Read More