Outlook up for Waikato/Bay of Plenty manufacturers

Media statement Thursday, September 13th, 2007

Outlook up for Waikato/ Bay of Plenty manufacturers

The data for August from the Business New Zealand Performance of Manufacturing Index is showed strong manufacturing expansion in the Waikato/ Bay of Plenty region, reports Jack Ninnes, chairman of the EMA Waikato.

“The PMI figures indicate production levels are up to 68.4 and finished stock levels down more than they’ve been for some months at 54.9,” Mr Ninnes said.

“A result above 50 represents expansion; below that shows the sector shrinking.

“In fact manufacturers in the Waikato/Bay of Plenty region are leading the country overall with a PMI of 62.5. Canterbury is next highest at 59.3, while the index for top half of North Island was 53.9.

“The region’s manufacturers are saying that while the currency is causing all sorts of headaches, the high world prices for dairy and improving returns for sheep and beef are being reflected in more orders coming through.

“This month marks the fifth year that the PMI has been running so we want to thank all those individual businesses that complete the survey each month.”

ENDS

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