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

 


Domestic sales fall, exports stay positive


Domestic sales fall, exports stay positive - 29 August

For results tables and historical data click here.

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions completed during August 2014, shows total sales in July 2014 decreased 8.07% (year on year export sales increased by 12.03% with domestic sales decreasing 27.48%) on July 2013.

The NZMEA survey sample this month covered NZ$400m in annualised sales, with an export content of 60%.

Net confidence was at 0, down from 8 in our survey last month.

The current performance index (a combination of profitability and cash flow) is at 96, slightly down from 97 last month, the change index (capacity utilisation, staff levels, orders and inventories) was at 100, up from 99 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 102.83, up on the last result of 102.5. Anything less than 100 indicates a contraction.

Constraints reported were 55% markets, 36% production capacity and 9% skilled staff.

Net 18% of firms reported a modest rise in productivity for July.

Staff numbers for July increased year on year by 2.18%.

Tradespersons, operators/labourers, supervisors, managers and professional/scientists all reported a moderate shortage.

"Domestic sales struggled in July off the back of a very positive result last survey, while exports fell back from recent months but remained in positive territory,” says NZMEA chief executive John Walley.

“Confidence fell again this survey, indexes remained mixed and constraints showed increasing pressure on production capacity but an easing off on the market constraint from last month’s high. Total turnover decreased for July, but comments were generally more positive than last month - the high currency and finding staff were among the top issues reported.”

“This month saw another major loss to New Zealand industry, with Croxley feeling the pressure of changing consumption patterns and an overvalued currency as too big an investment mountain and decided manufacturing was too hard in New Zealand, potentially losing 100 jobs.”

“The Treasury released their Pre-Election update last week, which generally was very similar to what we saw in the Budget forecasts. Perhaps the most significant change since the Budget was the current account deficit, which is forecast to increase more than previously expected in the coming years, reaching 4.8% of GDP in 2015, up to 6.4% in 2017.”

“This widening in the current account deficit is a major concern going forward.”

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news