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

 

Millenium Prospects Looking Good For Manufacturers

Millenium Prospects Are Looking Good For New Zealand Manufacturers

“The latest WestpacTrust Analysis of Manufacturing Industries for the September Quarter shows a marked improvement in the fortunes of New Zealand manufacturers” said David Moloney, President of the New Zealand Manufacturers Federation.

Growth in the economies of our major trading partners and the low exchange rate have had a significant role to play in the very positive results.”

“Nearly all of the key indicators reflect a more robust recovery than previously indicated, with sales for the quarter up 6.1 percent on the same time the previous year – the largest real increase since March 1995. Domestic sales for the quarter underpinned the recovery – up 9.4% over the September 1998 quarter. Exports of elaborately transformed manufactures continued to rise, up 5.7% from the September quarter in 1998.

“Only the level of investment and the falling rate of employment give cause for concern. Investment continued to fall to a level not seen since the early 90s. The clear suggestion is, however, that investment levels may have bottomed out.

“Perhaps of most concern is the continued shortage of skilled labour despite a fall in employment in the manufacturing sector. Ultimately, a lack of available skilled staff may prove to be the biggest problem facing manufacturers in the medium to long term as growth continues to pick up.

Manufacturers have for some time been reporting difficulties in obtaining skilled staff. Ongoing restructuring in the sector is not providing people with the right skills for the growth sectors within manufacturing. At the same time overall unemployment in New Zealand has been declining.

“The Federation has already called for a thorough review of this country’s education policies to ensure skills shortages do not pose a hindrance to New Zealand’s competitiveness.”

ends

For further comment contact David Moloney 04 388 8355 (bus) or 04 479 6230 (pvt)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Price Of Cheese: Dairy Product Prices Descend

Dairy product prices fell at the Global Dairy Trade auction as whole milk powder slid amid the prospect of increased supply. More>>

ALSO:

Deductible Horses: Peters' Bloodstock Investment Plan

“Cabinet has approved the final design of the bloodstock rules which were first signalled in Budget 2018. Investors new to bloodstock breeding will be able to claim tax deductions for the cost of horses, even if they don't own an existing horse breeding business...” More>>

Petrol Up 19%: Annual Inflation To September 1.9 Percent

The consumers price index (CPI) increased 1.9 percent in the September 2018 year, driven by higher petrol prices, Stats NZ said today. This follows a 1.5 percent annual inflation rate for the June 2018 year. More>>

ALSO:

Young Males Common Victims: NZ Tops List Of Most-Scam-Called Countries

Among the 16 nationalities surveyed for the 2018 Global Tech Support Scam Research conducted by TRG, New Zealanders reported the highest levels of exposure to tech scams, with more than three-quarters of us experiencing at least one. More>>