Everything that Labour touches turns to crap.
Remember the manufacturing crisis that they manufactured?
I wonder if David Shearer, Russel Norman and the Trade Unions will admit they were wrong….
Tina Morrison from BusinessDesk reports on Manufacturing:
New Zealand manufacturing activity rose to its highest level on record for a July month, reflecting a broad expansion.
The BNZ-BusinessNZ performance of manufacturing index rose 4.3 points to 59.5 in July from June, the highest result for a July month since the survey began in 2002 and the third highest monthly result on record. A reading above 50 indicates the sector expanded, while a fall below 50 shows contraction.¬†
New Zealand manufacturing is underpinned by domestic demand from the construction sector on the back of the rebuilding of earthquake damaged Christchurch and demand for housing in Auckland, the nation‚Äôs biggest city. Domestic demand is outweighing a weakness in our biggest export market of Australia, where an economic slowdown and the higher New Zealand dollar are crimping demand.
‚ÄúProduction and new orders continue to lead the charge, with signs that employment is starting to join in,‚ÄĚ Doug Steel, an economist at Bank of New Zealand, said in a statement. ‚ÄúThe strength is broad-based with expansion indicated by all major sub-indices across industries, regions and firm size.‚ÄĚ