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Waikato manufacturers report buoyant trading conditions
Waikato manufacturers report buoyant trading conditions
10 April 2014
Waikato manufacturers report buoyant trading conditions
Manufacturers in the Waikato are outperforming the national average, reports EMA Waikato chairman Jack Ninnes.
The latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI) shows the region’s index stands at 60.8, 2.4 points clear of the rest of New Zealand, Mr Ninnes said. (A PMI reading above 50 indicates expansion; below 50 a decline).
“Production levels in the Waikato are a robust 61.9 on the PMI, and the really good news is employment levels are even higher at 64.3,” Mr Ninnes said.
“That means our manufacturers could be looking to take on more people.
“Many businesses are reporting buoyant trading conditions with particular areas of growth being construction, and machinery and equipment for the dairy industry.
“But though the numbers for March are extremely encouraging, clouds of uncertainty are gathering on the horizon.
“Some exporters to Australia are reporting low demand with Australian retailers cutting back on orders, and many note the high NZ dollar relative to the Australian currency is having a serious impact.”
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