The manufacturing crisis the opposition has been trying to manufacture has been torpedoed by facts:
New Zealand manufacturing activity rose to its highest level on record for a July month, reflecting a broad expansion.
The BNZ-BusinessNZ performance of manufacturing index rose 4.3 points to 59.5 in July from June, the highest result for a July month since the survey began in 2002 and the third highest monthly result on record. A reading above 50 indicates the sector expanded, while a fall below 50 shows contraction.
New Zealand manufacturing is underpinned by domestic demand from the construction sector on the back of the rebuilding of earthquake damaged Christchurch and demand for housing in Auckland, the nation’s biggest city. Domestic demand is outweighing a weakness in our biggest export market of Australia, where an economic slowdown and the higher New Zealand dollar are crimping demand.
“Production and new orders continue to lead the charge, with signs that employment is starting to join in,” Doug Steel, an economist at Bank of New Zealand, said in a statement. “The strength is broad-based with expansion indicated by all major sub-indices across industries, regions and firm size.” . . .
Bad news for the opposition is good news for employment and the economy.
The ODT profiles a company which counters the gloom merchants:
Despite constant talk of recession and a so-called ”manufacturing crisis” people in rural Otago are still better placed now than at any time since the introduction of Rogernomics in the 1980s to set up in business, an Oamaru cheese manufacturer says.
Whitestone Cheese was set up in a defunct Oamaru garage at the height of government deregulation and a severe rural economic downturn in 1987.
The company, now exports to eight countries and employs about 40 full-time and 20 part-time staff at its Oamaru factory and up and down the country.
Managing director Bob Berry said today’s rural economy was still a ”much more positive environment” for business than it was 30 years ago.
”In our rural communities it was very difficult in the ’80s, but out of adversity often come opportunities. . . .
Whitestone Cheese began in adversity and has succeeded.
It is proof that opportunities are there for those with the courage to seize them, and that some of those opportunities are in manufacturing.