Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Manufacturing Growth And Confidence Falls Sharply

MEDIA RELEASE 26 May 2000


MANUFACTURING GROWTH AND CONFIDENCE FALLS SHARPLY

Manufacturers are going into the second quarter of 2000 with a substantial drop in turnover. The figures from the Employers’ & Manufacturers’ Association (EMA) monthly survey of business conditions for April, saw both export and domestic turnover down 13% on the same month last year.

“This survey result is the most pessimistic that I can recall in a long time” said Alasdair Thompson, Chief Executive of the EMA.

“The EMA survey for April provides evidence of a significant slowdown in the pace of manufacturing activity. Higher interest rates and falling exchange rates are affecting consumer and business confidence. Only 38% of respondents are now operating at full capacity down from 53% last month. Our survey result confirms that the Canterbury Employers Chamber survey results out last week are applicable in the Auckland area too.

“Much of the business pessimism arises from the perception that the government is more interested in wealth redistribution than it is in sending positive signals to wealth creating business employers. Our members are telling us that business confidence could fall even further if the government fails to address our legitimate concerns regarding the Employment Relations Bill.

“Raw material cost pressures are at their highest levels (with 56% of respondents saying they would increase the price of their finished goods). Our enquiries indicate these price increases are imported and are exchange rate or oil related.

“While staff numbers are up 10% on the same time last year nearly 17% of respondents indicated they could decrease staff next month. That is up from nil percent in February and March, and is unlikely to take account of the adverse effect we can expect on employment from the Employment Relations Act when it comes into effect later this year,” concluded Alasdair Thompson.

For further comment contact:

Alasdair Thompson
Phone Business (09) 367 0911
Home (09 303 3951
Mobile 025 982 024

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: