More bad news for the manufactured crisis

January 24th, 2014 at 3:00 pm by David Farrar

James Weir at Stuff reports:

kept up its head of steam at the end of 2013, and it may do even better in future and hire more staff, with an industry survey showing continued expansion.

For the first time since 2007, manufacturing expanded every month in the year in 2013, according to latest BNZ-BusinessNZ Performance of Manufacturing Index (PMI).

The index was 56.4 in December, similar to November’s 57.0 and puts the quarter average at 56.5.

A figure above 50 shows the sector is expanding and below 50 that it is contracting.

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.”

Manufacturing GDP posted a hefty 1.5 per cent increase in the September quarter.

The latest PMI survey fits with estimates that manufacturing GDP posted another quarter of growth of more than 1 per cent in the December quarter, and looks on track for the same in the first quarter of 2014.

One of the positive signs in the latest PMI was the high level of new orders at 61.4. New orders have topped 60 points in five of the last six months. …

 Overall, BusinessNZ’s executive director for manufacturing Catherine Beard said that New Zealand’s manufacturing scene was a standout performer, compared with other countries during 2013.

It was only six months ago that Labour, Greens, NZ First and Mana reported back on their manufactured manufacturing crisis. I think they’re so embarrassed by their Chicken Little routine, that the website is no longer operative.

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25 Responses to “More bad news for the manufactured crisis”

  1. hj (5,708 comments) says:

    How much of that manufacturing is constructin related and how much export related?

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  2. NK (919 comments) says:

    Why don’t you go and find out and report back hj?

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  3. double d (219 comments) says:

    hj just bitches and whines about those nasty foreigners NK.

    One of the most pointless commenters at KB

    Single issue nutter

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  4. stigie (648 comments) says:

    A manufactured manufacturing crises….

    Where do the left and NZF go for fucking shelter, This makes them look like twats !!~

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  5. hj (5,708 comments) says:

    A bit disingenous not to seperate manufacturing to supply houses for a growing popularion (population increase is government policy) from the sort of thing of which Sir Paul Callahgn spoke.
    As immigration increases ir creates it’s own demand and with it the lobbying power of that sector increases.
    Tag : crony capitalism.

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  6. Psycho Milt (1,988 comments) says:

    For the first time since 2007, manufacturing expanded every month in the year in 2013

    So, there’s a global financial crisis, economies world-wide are plunged into recession, NZ manufacturing takes a big hit. Five years later it (finally) starts to grow again. Clearly this eventual return to growth can only be attributed to the excellence of the current government, there is simply no other possible explanation…

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  7. NK (919 comments) says:

    A bit disingenous not to seperate manufacturing to supply houses for a growing popularion (population increase is government policy) from the sort of thing of which Sir Paul Callahgn spoke. As immigration increases ir creates it’s own demand and with it the lobbying power of that sector increases.

    A bit disingenous not to supply data claiming an increase in manufacturing is based on that to supply houses for a growing population.

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  8. wat dabney (3,466 comments) says:

    A bit disingenous not to seperate manufacturing to supply houses for a growing popularion (population increase is government policy) from the sort of thing of which Sir Paul Callahgn spoke.

    Manufacturing is different from the construction sector, so it is not disingenuous at all.

    Tag: Lying twat

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  9. OneTrack (1,979 comments) says:

    Psycho – the government would get all the brickbats if the economy was going backwards. Surely they can claim some of bouquets when it is going forward.

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  10. hj (5,708 comments) says:

    Manufacturing is different from the construction sector, so it is not disingenuous at all.

    Tag: Lying twat
    ……..
    So your saying manufacturing doesn’t include manufacturing for the construction industry?

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  11. hj (5,708 comments) says:

    I wonder if PR comes under manufacturing?

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  12. stigie (648 comments) says:

    Tag: Twat.

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  13. adze (1,695 comments) says:

    Clearly this eventual return to growth can only be attributed to the excellence of the current government, there is simply no other possible explanation…

    And yet the manic depressives over at Dimpost would be quick to blame the evils of John Key and Capitalism and the Rothschilds if the economy was in an extended recession as it was in the late 80s/early 90s… so YMMV I guess.

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  14. bhudson (4,720 comments) says:

    there is simply no other possible explanation…

    There is simply no manufacturing crisis.

    There is a manufactured one, however. A very poorly manufactured one.

    Perhaps that’s why no one is buying it.

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  15. SPC (4,679 comments) says:

    Historic manufacturing bottomed out under global market pressure and government lack of preference for local supply.

    Now it can only go up and recently as the Kiwi dollar fell from the 90 cents Oz dollar to 80 cents we become competitive in their market and have done well. But these times are coming to an end as our cash rate rises as the RB responds to the rebuild demand and rising property market.

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  16. Psycho Milt (1,988 comments) says:

    Psycho – the government would get all the brickbats if the economy was going backwards. Surely they can claim some of bouquets when it is going forward

    The reverse also applies – if the government is to get the credit for this improvement, it can take the blame for the years of stagnation as well. Fact is, what the government is or isn’t doing had little to do with either the stagnation or the recovery.

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  17. hj (5,708 comments) says:

    Growth in the manufacturing sector will be underpinned by activity in the construction sector, with residential building activity being a main driver.
    ………….
    RadioNZ News.
    Whose been telling porkies?

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  18. hj (5,708 comments) says:

    BNZ senior economist Craig Ebert says that while manufacturing growth slowed in September, the sector still experienced better than average expansion, and construction activity in Canterbury will provide a boost to manufacturing.

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  19. hj (5,708 comments) says:

    http://www.radionz.co.nz/news/business/224346/construction-sector-likely-to-underpin-manufacturing-growth

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  20. hj (5,708 comments) says:

    Economic Development Minister Steven Joyce said that the construction sector now employed 7 per cent of the New Zealand workforce – around 170,000 people – and generated annual revenues of $30 billion.

    He said that the industry was experiencing unprecedented growth, driven by the Christchurch rebuild and demand for housing in Auckland.

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  21. hj (5,708 comments) says:

    Massive immigration in 2002.

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  22. hj (5,708 comments) says:

    It also identified challenges faced by the sector – low productivity, the aftermath of the leaky building fiasco, and the vulnerability of the industry to boom and bust cycles.

    The construction industry questioned whether it had the capacity to deal with the massive workload of repairing leaky homes, rebuilding Christchurch and meeting housing demand in Auckland.

    Many firms were small and might not be in a position to take advantage of these new opportunities. The sector was also concerned about the viability of firms once demand slowed again.

    Productivity growth was lower than other parts of the economy. For every hour worked in construction, $34 of GDP was generated, compared to an average of $48 across all sectors.

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  23. hj (5,708 comments) says:

    So there you have it, a sector that churns out urban crud and relies on immigration to prop it up.

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  24. hj (5,708 comments) says:

    http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11160225

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  25. hj (5,708 comments) says:

    Had to post ib
    n sections as am on smart phone. Having privlems with touch screen.
    Thinking of ya. Big day ahead.

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