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


NZMEA Survey: Same old....same old - 2 November

Same old....same old - 2 November
For results tables and historical data click here.

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during October 2012, shows total sales in September 2012 increased 3.07% (export sales increased by 38% with domestic sales decreasing 18%) on September 2011.

The NZMEA survey sample this month covered NZ$384m in annualised sales, with an export content of 50%.

Net confidence fell from -10 last month to -33 this month.

The current performance index (a combination of profitability and cash flow) is at 98, down from 102 in August, the change index (capacity utilisation, staff levels, orders and inventories) went down to 98 from 101 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 96, down on August’s result of 100. Anything less than 100 indicates a contraction.

Constraints reported were 89% markets and 11% skilled staff.

Staff numbers for September increased year on year by 1.7%.

“You would think with strong growth in exports year on year we would be seeing sentiment follow, but as always sales are vanity, profits are sanity – and of course profitability is ruined by the exchange rate,” says NZMEA Chief Executive John Walley.

“The first OCR review by the new Reserve Bank Governor produced much of the same; an overblown view of inflation pressure of the back of growth in the domestic sector. We have seen all this before.”

“Meanwhile the Government is in denial of the problems facing the manufacturing sector; in denial of the policy options being used elsewhere, even claiming they don’t work when they are manifestly successful.”

“This comes down to culture, if you have a do nothing mind-set doing anything is always going to be a bit too hard and you would need to think.”

"Consider the Swiss decision to impose a limit on the rise of the Swiss Franc against the Euro. That decision is not made in siloed isolation; it is a political choice that is pro-jobs in the Swiss export sector and against cheap imports for everyone in Switzerland.”

“In a world of such interventions New Zealand policy makers need to wake up and respond,” said Walley.

For further comment contact John Walley, 021 809 631.
The New Zealand Manufacturers and Exporters Association survey gathers results from members around New Zealand. It provides a monthly snapshot of manufacturers and exporters’ sales and sentiment.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Sweet Health: Sugary Drinks Banned From Hospitals And Health Boards

All hospitals and DHBs are expected to kick sugary drinks out of their premises. University of Auckland researcher, Dr Gerhard Sundborn who also heads public health advocacy group “FIZZ”, says he welcomes the initiative. More>>


NASA: Evidence Of Liquid Water On Today's Mars

Using an imaging spectrometer on MRO, researchers detected signatures of hydrated minerals on slopes where mysterious streaks are seen on the Red Planet. These darkish streaks appear to ebb and flow over time. More>>


Bird Brains: Robins Can Just Be Generally Clever

Research from Victoria University of Wellington has revealed that birds may possess a ‘general intelligence’ similar to humans, with some individuals able to excel in multiple cognitive tests. More>>


Psa-V: Positive Result On Whangarei Kiwifruit Orchard

Kiwifruit Vine Health (KVH) has received a Psa-V positive test result on Hort16A and male vines on a kiwifruit orchard in Whangarei. This is the first confirmed case of Psa-V on an orchard in the Whangarei region. More>>

Regional Accents: Are Microbes The Key To Geographical Differences In Wine?

A new study of six of New Zealand’s major wine-growing regions has found that differences in flavour and aroma of wine from different areas may depend more on microbes than was previously thought. More>>


Science: AgResearch To Cut Science Staff In Areas Of 'Reduced Demand'

“We are therefore consulting with our staff from today on a proposal to reduce science staff in areas of shrinking demand. Combined with recruitment planned in areas of growing demand, this would mean a net reduction of 15 scientists and 41 technicians at AgResearch in the 2015/16 year." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news