Doug Steel

How about that manufacturing crisis?

Remember the manufacturing crisis that the Labour party and assorted other opposition parties promulgated?

You know that the sector that was in total decay and was going to fail dooming us to a life of low wage servitude and indentured labour?

Yeah…that crisis…remember?

Manufacturers are flat out and are crying out for more workers, with a survey showing employment activity at record levels.

The latest BNZ- Business NZ Performance of Manufacturing Index showed the sector was expanding at its fastest pace this year in October.

The seasonally adjusted PMI for October was 59.3, up 0.8 on September. An index above 50 indicates the sector is growing and below 50 it is shrinking.

The PMI employment index hit 57.5 points in October, the highest level on record since the survey began in 2002.

BNZ senior economist Doug Steel said the labour market was getting stronger with annual employment growth of 3.2 per cent and the unemployment rate falling in the year to September.

“Today’s PMI results suggest more improvement is likely in the final quarter of 2014.” ? Read more »

Uh oh, looks the crisis in manufacturing still isn’t a crisis

Labour and the opposition parties declared a crisis in manufacturing.

They held their own inquiry and the very same day that they stood and told the media that their findings were that NZ manufacturing was doomed, in crisis and needed their remedy statistics were released that showed that manufacturing was in fact doing the complete opposite.

Almost everything that Labour or other opposition parties have declared to be in crisis has turned around and improved.

New figures show that manufacturing is still growing.

The manufacturing sector experienced its strongest level of activity for five months, according to the latest?BNZ – BusinessNZ Performance of Manufacturing Index?(PMI).

The seasonally adjusted PMI for August was?56.5?(a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining).

Read more »

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. ? Read more »

Service Sector Booming

The good economic news continues to come, this time in the service sector.

New Zealand’s services sector, which accounts for almost two-thirds of the economy, accelerated to a record for a September month, led by new orders/business.

The?BNZ-BusinessNZ performance of services index?rose 2.3 points to 55.6 in September, the highest for that month since the survey began in 2007. A reading above 50 indicates expansion in activity.? Read more »

Manufactured Manufacturing crisis, Ctd

The Green/Labour/NZ First Manufacturing inquiry’s been a complete and utter triumph.

Manufacturing has climbed to a nine year high since the Opposition Parties launched their talkfest.

I’m really looking forward to their long overdue report on the ‘crisis’.

New Zealand manufacturing activity rose in May to the highest level since June 2004, led by new orders and production, stoking optimism the economy may be picking up pace.

The BNZ-BusinessNZ performance of manufacturing index rose 4 points to 59.2 in May, the highest level in nine years and the strongest reading for May since the survey began in 2002.? Read more »