Orders, output surge ahead for Waikato manufacturers

The BNZ Capital/Business New Zealand Performance of Manufacturing Index released today for Waikato manufacturers records the strongest level of expansion for many months.

"Both New Orders and production output came in at 67.5 on the PMI for November, an extremely encouraging sign," said the chairman of EMA Waikato Jack Ninnes.

(An Index figure above 50 indicates expansion, below 50 indicates contraction)

"Plus, stocks of finished goods were still being run down - they're at 45.0 while deliveries of raw materials are up at 57.5. Both these indicators are positive as well.

"Perhaps the most telling indicator that the worst is behind us is that Waikato manufacturers are hiring again - the PMI for employment was 52.5.

"Anecdotal evidence backs up this promising outlook. Some comments I've heard are:
"We've just had the best three months in the past three years."
"We're hiring staff again."
"We're back on five day week and re-hiring people made redundant."
"We have orders now until March next year and we're taking on staff."