Comments

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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7/2/14

Exports see some growth


Print-friendly 1 comment(s) Posted in: In the media

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during January 2014, shows total sales in December 2013 increased 2.02% (year on year export sales increased by 17.09% with domestic sales decreasing 14.0%) on December 2012.

The NZMEA survey sample this month covered NZ$383m in annualised sales, with an export content of 59%.

Net confidence was unchanged on November, at 30.

The current performance index (a combination of profitability and cash flow) is at 101.7, down from 104 in November, the change index (capacity utilisation, staff levels, orders and inventories) was at 103, down from 104 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 103.67, up on Novembers result of 102.83. Anything less than 100 indicates a contraction.

Constraints reported were 70% markets and 30% production capacity.

Net 30% of firms reported a modest rise in productivity for December.

Staff numbers for December fell year on year by 2.25%.

There was a moderate staff shortage reported for tradespersons, operators/labourers, supervisors and managers and a minor shortage for professionals/scientists.

“We have seen more positive export sales over the last few months, on the back of a generally negative trend throughout 2013. In contrast, domestic turnover has been negative over recent months, as compared to a generally positive trend in 2013,” says NZMEA Chief Executive John Walley.

“Our indexes had mixed results this month, but all three remaining in positive territory, while confidence was unchanged.”

“It was good to see the Reserve Bank of New Zealand (RBNZ) resist OCR increases; currency should be the major worry and interest rates, based on past experience, will have to go a long way to dent asset markets.”

“The LVR policy appears to be having some direct effect, and may give the RBNZ more room to delay increasing the OCR while other countries move their monetary policy towards more normal settings. We would like to see the further use of prudential tools, as a way to target asset inflation and protect financial stability without driving yet more deflation into the traded sector via an ever higher exchange rate. It will be hard to rebalance our economy without some new thinking in this regard.”

 

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tags: survey, sales, exports, lvr, exchange rate, ocr, rbnz, confidence, constraints, staff

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