Manufacturing activity slips slightly

JAMES WEIR
Last updated 10:48 13/12/2012

Relevant offers

National business

NZ cigarette plain packaging law would see Imperial Tobacco sue for compensation Small number of taxpayers bear the brunt of New Zealand tax bill Hate the bank? Start one yourself New Zealand ranks 4th in prosperity index Stallholders win compensation after being evicted from Womad Trade Minister to meet with EU and UK to discuss impact of Brexit on Kiwi exporters McDonald's registers 'McDelivery' service trademark in New Zealand Hamilton Configure Express gym members locked out Modest two-bedroom home in Mangere Bridge fetches $1.7million at auction Powerful NZ dame: UK ties to become deeper, stronger and more significant

Manufacturing activity slipped by a slim margin in November, with a business survey pointing to a slowdown.

In November the Performance of Manufacturing index edged a touch below the 50 break-even mark at 48.8. The index was at 50.3, in October.

“These results are not significantly different. In fact, the headline result has been through one of its most stable six-month periods in the over 10-year history of the survey, “ Business NZ said.

Manufacturing exports face even stronger headwinds today, with the exchange rate rising well above US84c.
BusinessNZ’s executive director for manufacturing Catherine Beard said that the November result continued a pattern seen here and overseas for the manufacturing sector.

“The last six months have seen little to write home about in terms of New Zealand manufacturing,” she said.

Sluggish production and new orders meant the overall result had little chance to show stronger activity levels, while employment in the sector remains in contraction.

However, New Zealand was no different from most other countries. The JPMorgan Global PMI remained in decline, and Australia was faring worse than us with overall activity down to 43.6.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content