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


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news