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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Market conditions still a challenge

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The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during November 2015, shows total sales in October 2015 decreased 5.70% (year on year export sales decreased by 8.25% with domestic sales decreasing 0.88%) on October 2014.

The NZMEA survey sample this month covered NZ$366m in annualised sales, with an export content of 64%.

Net confidence fell to 6, down from 23 in September.

The current performance index (a combination of profitability and cash flow) is at 103.7, up from 102.3 last month, the change index (capacity utilisation, staff levels, orders and inventories) was at 100, up from 97 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 106.5, up on the last result of 104.83. Anything over 100 indicates expansion.

Constraints reported were 82% markets, 12% production capacity and 6% skilled staff.

Net 24% of firms reported a modest rise in productivity in October.

Staff numbers for October reported no change on the same month last year.

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

“Domestic sales fell back after last month’s good result, largely unchanged to sales in October 2014. Export sales also felt a drop in October moving into the negative compared with the same month in 2014; this was after a flat sales result last month. This is somewhat disappointing, as we had hoped last months results were a positive sign of a turnaround in trend – these lower results may reflect challenges in the global environment, as well as a slowing domestic economy. The very high market constraint of 82% shows the extent to which market conditions are effecting manufacturers.” says NZMEA Chief Executive Dieter Adam.

“Staff numbers remained flat in October and confidence fell after the boost it felt in September. Despite these results all three index measures saw increases, suggesting there are still improvements being made in business operation and profitability, as well as more optimistic forecasts for the future.

“The most recent Overseas Merchandise Trade release from Statistics New Zealand gave encouraging export values for a particular sub-sector of manufacturing. Specifically, the last two months have seen the highest export values for electrical equipment and machinery manufacturing since May 2012.

“Manufacturers and exporters have shown themselves to be extremely resilient in the face of trying times in recent years. Given a policy focus on growing the sector, encouraging innovation, R&D, fostering skills and leveraging changing technology, manufacturers can provide even more to our country, through growth, exports and skilled employment.” says Dieter.

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tags: survey, manufacturers, exporters, confidence, exports, index, electrical equipment , staff, sales


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