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Speaker 1: As much as we tried to celebrate last week's excellent

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Speaker 1: economic numbers, the food and the fire of the bolishness

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Speaker 1: of the field, daisy boost, an elective surgery, the boom

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Speaker 1: and teacher numbers, and many of those will continue to

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Speaker 1: be a good news story. What you can't ignore is,

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Speaker 1: sadly are the manufacturing read for April. It had a

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Speaker 1: brick wall. It fell over six points. It is below

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Speaker 1: the fifty point expansion remarked now, now, a couple of

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Speaker 1: key things about that. While services and sentiment and spending

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Speaker 1: figures have been bad, manufacturing four months now has been

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Speaker 1: on the increase each and every month. It has been

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Speaker 1: above fifty. It has been growing. It has been a

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Speaker 1: significant green shoot in the overall economic picture. Other thing

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Speaker 1: is employment. This is a subcategory that had its biggest

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Speaker 1: reversal in the history of the index. What makes us worse?

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Speaker 1: For those of you going, oh, that'll be Trump, the

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Speaker 1: experts don't think so. It's April. Remember so Liberation Day

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Speaker 1: hadn't come to pass yet. So the big question is

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Speaker 1: how much of it is the world? Remember the world

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Speaker 1: and the World Bank last week reduced global growth all

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Speaker 1: over the place, versus how much of it is has

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Speaker 1: New Zealand inc hit a tough spot for trainspotters. It

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Speaker 1: was suggested fairly far and White at the time that

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Speaker 1: April and may seem to be a little bit of

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Speaker 1: an issue, and all that momentum that we felt we

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Speaker 1: had at the start of the year had suddenly run

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Speaker 1: out of puff. Well, these numbers would tend to suggest

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Speaker 1: that vibe was real. Ironically, this week we get the

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Speaker 1: GDP figures four Q one, which is Jan febrom March,

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Speaker 1: and the broad consensus is that we will see good growth.

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Speaker 1: They think it's about zero point seven for the quarter.

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Speaker 1: If you add in you will annualize that out gives

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Speaker 1: your number very close to three, which anyone would take

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Speaker 1: in this troubled and turbulent will. But we can't annualize

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Speaker 1: it out, not with manufacturing numbers like this. It might

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Speaker 1: be short term. It may involve the Reserve Bank, and

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Speaker 1: that idea that they had that the things were neutral

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Speaker 1: and therefore not needing a g up may well be

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Speaker 1: hopelessly wrong. Politically, of course, it's a hole in the head.

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Speaker 1: The government don't need, because it's not like they aren't

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Speaker 1: peddling fast. But when one of your major Economic reads

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Speaker 1: that was good now isn't. Doesn't take an economics degree

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Speaker 1: to recognize a bid big FA Read flag. For more

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Speaker 1: from The Mic Asking Breakfast, Listen live to news Talks

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