The manufactured crisis is failing

How inconvenient for Labour, Greens, NZ First and Mana who have been holding their faux inquiry into the manufacturing crisis.

Stuff reports:

The manufacturing sector is expanding at its best rate for a year, as it gets get a boost from the Canterbury rebuild and wider construction work, according to a survey.

The latest BNZ-Business New Zealand Performance of Manufacturing Index was up 1.1 points  to 56.3 points in February.

A figure above 50 indicates that the sector is generally expanding and under 50 that it is going backwards.

The latest figure was the highest reading since February 2012.

BNZ senior economist Craig Ebert said the result reinforced the bank’s view that manufacturing was not “in crisis”.

 “The figures speak for themselves. The way some people are talking, we should be witnessing a very weak, to plunging, PMI. In fact, it’s improved to a more positive level,” he said.

A funny sort of crisis.