Remember the manufacturing crisis?

Remember the manufacturing crisis?

The opposition parties all declared that manufacturing was in crisis in New Zealand. They held their own inquiry then had a meeting to announce that manufacturing was busted and they could fix it.

That same day new figures were announced that manufacturing was far from crisis and was in fact booming, and ever since that fateful day the opposition parties declared their crisis manufacturing hasn’t looked back.

Now manufacturing has hit a 10 year high.

Activity in New Zealand’s manufacturing sector rose last month to its highest level in a decade.

The BNZ-Business NZ performance of manufacturing index rose to a seasonally adjusted 57.7 last month, the highest reading for a December month since 2004, and up 2.1 points from November’s 55.2 reading. Meanwhile, the annual average reading was 56, unchanged from a year earlier. The index, where a reading above 50 indicates growing activity, has been in expansion for the past 27 months.   

Manufacturing activity remained above the key 50 level in four of the five sub-indices, with only employment recording a contraction of a seasonally adjusted 49.4. New orders recorded the highest reading at a seasonally adjusted 62, while production was at 61.7. Deliveries rose for the second consecutive month to 58.7, while finished stocks fell to its lowest level since August of 50.4.

Three of four regions reported expansions, with the Central region posting its first contraction since August of 49.3. Meanwhile, Otago-Southland rose to 66, Canterbury/Westland recorded 60 and the Northern region fell to 56.9 from its 62 reading in November.

About the only thing Labour hasn’t declared is in crisis is their own party.

Hopefully they won’t ever take the drastic step of uttering those fateful words.

 

– NZ Herald


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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