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David Thompson Posted:
So very, very true. It beggars belief that we consider ourselves to be a developed nation when so much of our economy is based on selling milk powder or logs. BTW, I own a Plinius amplifier (my second) that drives a set of Theophany speakers.
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David Thompson Posted:
A robust but sobering report. It concerns me that confidence is rising, yet sales and exports are down and "manufacturers and exporters are still lagging behind other sectors". Surely we should wait until we're earning more money before we start spending more?
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siemens Posted:
Yes true! The only thing that will never die in this world is the nature and its science behind it. Great post.
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Kieran Ormandy Posted:
Thanks for the question Steven, Germany has seen increases in manufacturing employment since 2009, and Switzerland has had stable manufacturing employment between 2006 – 2011, even in the face of ongoing Euro-zone issues. Korea has seen increases in manufacturing employment since 2008 and Israel experienced large increases since 1998, while being stable over the last 4 years. Singapore has had increases in manufacturing employment over the last two years. These countries all value their manufacturing sectors and work to protect them, this is reflected in the above numbers and their performance through the GFC. Note data around the above examples was sourced from OECD labour market stats.
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John Walley Posted:
Point one: you should have no doubt what our Association says publically represent the views of our members. Point two: we don’t knee jerk responses, if you trace back our comments around NZPower you will see them link all the way back to our research in 2004 and 2005. All that material is fully linked from our comments above. Point three: you will note our comments on major users, sadly the same advantage does not accrue to smaller industrial users. The perverse incentives of the LRMC approach in all this are well known. Point four: the NZMEA is not like any other Association in New Zealand we admit only manufacturers and exporters into membership, and our public expressions are the views of that restricted membership.
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8/3/13

Things getting better - maybe?


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The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during February 2013, shows total sales in January 2013 increased 7.71% (export sales increased by 17.23% with domestic sales decreasing 0.02%) on January 2012.

The NZMEA survey sample this month covered NZ$221m in annualised sales, with an export content of 49%.

Net confidence rose to -9, up from the -14 result reported last month.

The current performance index (a combination of profitability and cash flow) is at 99.5, down from 101 in December, the change index (capacity utilisation, staff levels, orders and inventories) went up to 100 from 97 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 102.75, up on December’s result of 101.75. Anything less than 100 indicates a contraction.

Constraints reported were 82% markets and 18% production capacity.

Staff numbers for January increased year on year by 2.03%.

“We are seeing positive increases in exports for January, but confidence, although improved on last month is still negative.” says NZMEA Chief Executive John Walley. “Overall trends are hard to pick, but it seems they are zero to slightly positive in recent months.”

“Markets and exchange rates are once again seen as the biggest constraint to growth. With better news, at least for now, from the economy we hope that the Reserve Bank will move quickly on the introduction of prudential tools, such as loan to value ratios, to push back on house price inflation, without bringing more upwards pressure on the exchange rate. ”

“We also received comment that finding entry level staff is difficult, especially in the Christchurch region as the rebuild gathers a little pace.”

“The overall feeling is that things remain a struggle but efforts endure, however if the dollar continues to appreciate their future is questioned and we will see significant loss of activity in New Zealand. These are highly efficient, expert firms that would be thriving given the right policy settings; their absence will have significant and long term negative impacts on the New Zealand economy far beyond the immediate job losses.”

 

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tags: survey, exchange rate, staff

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