The Australian Industry Group has released figures on manufacturing industry performance. Its PMI or performance of manufacturing index has 50 as the “break even”, with over 50 indicating growth and less than 50 representing contraction.
I saw a few days ago that manufacturing in NZ is up around the high 50’s. They are certainly talking it up.
Here in the Land of Oz it is on a downward slide and that is despite the falling dollar and low interest rates.
December 2013 scored 47.6… January 46.7
A few sectors are doing OK such as wood and paper products (who said computers would lead to less paperwork?!) @ 61.9…mineral products @ 57.6…food-beverages-tobacco (of course, we love our beer and ciggies) @ 54…and petroleum-coal-chemical-rubber products @ 52.7
AIG says 2014 looks like it will be another challenging year for our manufacturers.
Source: Manufacturers Monthly