Manufacturing proves resilient to omicron

Manufacturing proves resilient to omicron
Factories are still processing through the omicron outbreak. (Image: Deposit Photos)
Andy Fyers
New Zealand’s manufacturing sector proved resilient to omicron in February but there are headwinds.The seasonally-adjusted PMI for February was 53.6 in February versus 52.3 in January, according to the BNZ-BusinessNZ performance of manufacturing index (PMI). A reading of 50 separates expanding activity from contraction.“This February result, amid covid case numbers enormously greater than anything NZ experienced beforehand, is heartening”, said BNZ senior economist Craig Ebert.“Make no mistake, the PMI can be rocked by c...

More Economy

Westpac adds another rate cut to its forecasts
Economy

Westpac adds another rate cut to its forecasts

Westpac Bank now expects the official cash rate (OCR) to trough at 3% and has pushed back the timing of its forecast tightening cycle.“Downside risks from global growth suggest the RBNZ [Reserve Bank of New Zealand] may continue easing beyond May,” chief economist Kelly Eckhold s...

Rebecca Howard 09 May 2025
Rams Logistics owed $3.2m to IRD
Economy

Rams Logistics owed $3.2m to IRD

About 50 employees are owed approximately $760,000, the liquidators said.

Gregor Thompson 08 May 2025
Paul Bloxham: NZ's growth to stem worker outflow to Australia
Economy

Paul Bloxham: NZ's growth to stem worker outflow to Australia

HSBC's chief economist says NZ will benefit from Chinese economic pivot.

Capital requirements review doesn't mean they are too high
Economy

Capital requirements review doesn't mean they are too high

The Reserve Bank of NZ is not committed to any one particular outcome. 

Rebecca Howard 07 May 2025