Posts Tagged ‘manufacturing activity’
Forex Market News – New Zealand Manufacturing Rise
Tuesday, September 15th, 2009New Zealand’s Manufacturing Sales Grew Yet It Does Not Support Growth
The manufacturing sector in New Zealand saw a rise in its annual sales for the first time in six quarters, but since many sectors continue to face challenges, the manufacturing sector improvement will not be enough to support growth in New Zealand’s economy that remains into recession during the second quarter of this year.
The overall activity of New Zealand’s manufacturing sector declined during the second quarter by – 4.8% after falling the previous month by 0.9%, on the other hand the volume of sales rose by 1.8% compared with the first quarter of this year. While the indicator that excludes meat and dairy sales fell by 2.8%.
The surge in meat and dairy sales is what supported the manufacturing sector sales during the second quarter of this year, but on the other hand, the government usually takes into consideration the indicator that excludes those parts, in order to have a better view of the manufacturing sector performance. (more…)
