A monthly survey of the manufacturing sector is reporting its first rise in worker numbers since November 2008.New Zealand Manufacturers and Exporters Association chief executive John Walley said the organisation's latest survey of business conditions was
A monthly survey of the manufacturing sector is reporting its first rise in worker numbers since November 2008.
New Zealand Manufacturers and Exporters Association chief executive John Walley said the organisation's latest survey of business conditions was probably the most positive since the onset of the global financial crisis.
"That said, the recovery is fragile, patchy and far from bedded in."
Net confidence in the survey, which was completed during June, rose to 50 from 46 the previous month.
The current performance index, which measures profitability and cash flows rose to 104.5 from 102.5, while the change index, measuring capacity utilisation, staff levels, orders and inventories rose to 105 from 102. Anything under 100 suggests a contraction.
Sales in May were 9.8 percent ahead of a year earlier, with export sales up 9 percent and domestic sales up 10 percent. Staff numbers rose 3 percent.
