What sector crisis will Labour choose next…so it can recover too

Labour declared that there was a manufacturing crisis in New Zealand, they encouraged the other opposition parties to hold an inquiry into the manufactured manufacturing crisis and on the very day that they released their report which unsurprisingly said there was a crisis new statistics were released that showed the sector recovering and recovering well.

Business NZ has announced:

New Zealand?s manufacturing sector ended the year on a healthy note, and the first time since 2007 that every month recorded expansion in activity, according to the latest?BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for December was 56.4 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). The sector has now been in expansion for 15 consecutive months, with an average PMI value of 56.0 over the year.

BusinessNZ?s executive director for manufacturing Catherine Beard said that New Zealand?s manufacturing scene has proven to be one of the standout performers?when compared with other countries during 2013. ?

?With every month being in positive territory, the sector did not experience any lulls in activity that has hampered previous years. While the global manufacturing scene is slowly improving, a number of countries are still experiencing a fragile recovery, none more so than Australia where a period of expansion is then followed by a bout of decline.

?Given the current pattern of positive economic data hitting headlines on this side of the Tasman, there is every reason to believe that 2014 will be at least the equal of 2013 for the sector.

BNZ economist Doug Steel said, ?The firm PMI and robust details suggest that the strong rise in manufacturing GDP in the latest national accounts was no fluke. More manufacturing GDP growth is expected over coming quarters.?

I hope?on Monday?Cunliffe declares a crisis in another part of our economy.

The last crisis Labour declared has worked out so well for them.

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