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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3/10/14

RBNZ more than talk


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The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during September 2014, shows total sales in August 2014 decreased 1.01% (year on year export sales increased by 14.1% with domestic sales decreasing 13.24%) on August 2013.

The NZMEA survey sample this month covered NZ$495m in annualised sales, with an export content of 52%.

Net confidence was at 27, up from 0 in our survey last month.

The current performance index (a combination of profitability and cash flow) is at 97.3, up from 96 last month, the change index (capacity utilisation, staff levels, orders and inventories) was at 103, up from 100 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 106.67, up on the last result of 102.83. Anything less than 100 indicates a contraction.

Constraints reported were 47% markets, 33% production capacity, 13% skilled staff and 7% capital.

Net 27% of firms reported a modest rise in productivity for August.

Staff numbers for August increased year on year by 2.50%.

Tradespersons, supervisors, operators/labourers and professional/scientists reported a moderate shortage, while managers reported a minor shortage.

"The trends we have seen recently continue, domestic sales falling, with export sales making up for the soft domestic market. Net confidence bounced back somewhat from last survey, as did all three index measures.”

“This recent positive trend in export sales has improved sentiment somewhat, with many feeling more optimistic, though cautiously, than they have in some time.”

“The responses in September saw the market and production capacity constraints fall, while the skilled staff and capital constrains increased.”

“This week revealed that the Reserve Bank of New Zealand (RBNZ) had in fact intervened in the currency market during August, selling a net $521m NZD. The RBNZ have been warning and expressing concern over the value of our currency for some time now – it is great to see them take decisive action to bring the dollar down.”

“While the currency remains overvalued, this gives some credibility to the RBNZs threats, and we hope they continue to try and bring the exchange rate down towards fair value. “

“Persistent over or under valuation of the currency sends the wrong signals to the economy that can have lasting problems.”


 

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tags: survey, exports, sales, domestic, manufacturing, reserve bank, currency, intervention

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