Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Aggregate performance is great but confidence sink


Aggregate performance is great but confidence sinks

Confidence fell in our survey of Canterbury manufacturers completed in SEPTEMBER reinforcing the trend that has developed during the first half of 2002. “A reduction in the number of optimists and an increase in the number of pessimists saw the net confidence reported in SEPTEMBER fall to -31 down from -19 reported in our AUGUST results.” said John Walley, CEO of the Canterbury Manufacturers' Association, "The trend has shown the odd blip this year but the steady trend of eroding confidence is clear in the responses.”

Overall dollar sales increased for the month of AUGUST by around 23% on AUGUST 2001, with domestic sales up about 10% and export sales up by 37%. “On the face of it a good result, however looking deeper we see about 55% of reporting companies indicating a fall in sales.” said Mr Walley. “So it is clear that the good news is patchy and this perhaps accounts for the apparent conflict in aggregate performance and feelings.”

Staff numbers have increased by around 3.5% on the same period last year. In the survey completed in SEPTEMBER our leading indicators - staff, investment and profitability improved but turnover expectations softened. "For the next quarter things are expected to hold up, further out feelings are somewhat on the negative side,” said John Walley.

From the constraint standpoint, market conditions were cited at the same level as last month at 75% with staff constraints falling to 6% and capacity the limit in 19% of respondents and capacity limits at 13%. Capital is not a constraint for respondents.

"Key problems were noted on existing levels of compliance and threats of increasing compliance and regulation noted in the media. Last month we expressed concerns about the performance of the Lyttleton Port Company. These seem to be increasing, as are concerns about A$ cross rates and trading partner performance - particularly Japan, USA and Australia,” commented John Walley.

Our dream run is over, we need to get into the hard grind of transforming New Zealand’s economy and building the manufacturing sector. Microeconomic reform to favour development of the manufacturing sector is much more important to real and sustained growth than the recent changes in the Policy Targets Agreement,” said John Walley. “In the past Canterbury has always acted as a leading indicator for New Zealand and we should be careful not to confuse current performance with the need to invest in policies and practices that look ahead, transforming what we do today into the growth of tomorrow.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election