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

 


Domestic Sales Stronger than Exports

Domestic Sales Stronger than Exports

7 December 2012

For results tables and historical data click here.

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during November 2012, shows total sales in October 2012 increased 7.05% (export sales increased by 1.90% with domestic sales increasing 11%) on October 2011.

The NZMEA survey sample this month covered NZ$594m in annualised sales, with an export content of 42%.

Net confidence improved to -18, up from the -33 result reported last month.

The current performance index (a combination of profitability and cash flow) is at 93.5, down from 98.0 in September, the change index (capacity utilisation, staff levels, orders and inventories) stayed the same as last month at 96.0, and the forecast index (investment, sales, profitability and staff) is at 98.5, up on September’s result of 96. Anything less than 100 indicates a contraction.

Constraints reported were 82% markets and 9% production capacity.
Staff numbers for October decreased year on year by 3.1%.

“We are seeing some increases in exports, but the large majority of the improvements in total turnover are being fuelled by domestic sales” says NZMEA Chief Executive John Walley.

“The domestic gains in turnover were patchy; although average domestic turnover increased by 11%, only 36% of respondents reported a rise.”

“It is not unusual for our real numbers (this is the only survey that reports actual sales and job numbers) not to correspond with our sentiment indexes, sentiment says contraction and the numbers say sales expansion and job contraction. All up, I think the employment trend is the most telling and we should be concerned.”

“Market conditions continue as the main constraint on sales.”

“Opportunities are seen in the Christchurch rebuild, winning some new customers, but the major threats continue to be the exchange rate and soft demand.”

“The reported decrease in staff numbers, coupled with the long term trend of no growth continues to underpin the story of uncertainty and corresponding risk avoidance.”

The New Zealand Manufacturers and Exporters Association survey gathers results from members around New Zealand. It provides a monthly snapshot of manufacturers and exporters.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news