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

 

The pain goes on ...

3 November 2005

IMMEDIATE RELEASE

The pain goes on ...

The latest Canterbury Manufacturers’ Association Survey of Manufacturers completed during October 2005, shows total sales in September 2005 were down 4.5%, (export sales down 8.7% and domestic sales up slightly at about 1.4%) on September 2004.

The Canterbury Manufacturers’ Association survey sample this month reported around NZ$540m in annualised sales, with an export content of 57%.

“The trend in sales is now starting to reflect sentiment,” says John Walley, Chief Executive of the Canterbury Manufacturers’ Association. “The NZ dollar lifted 1 USc and 2 AUc as this survey was open and we don’t expect things to improve much in the near future.”

“Pain levels are holding up, along with the exchange rate.”

“The exchange rate should be under downward pressure from the current account deficit, but capital flows supporting consumer credit seems to be winning right now, this looks set for a painful correction in the wider economy.”

“Net confidence lifted a little to -27 against -36 last month; some misery is still with us.”

“One bright spot in the survey shows investment continuing to increase.”

“Sector comments remain variable, what has been the bright spot, construction, is indicating that growth in the sector has stopped. More broadly, consumer channels seem to be overstocked and original equipment manufacturers (OEM) orders are increasingly volatile.”

“The headline issue for the month was Air New Zealand and its sell down of more core capability in terms of engineering expertise. The 600 jobs in maintenance at Air New Zealand are the tip of the iceberg, other general engineers can expect to see the knock-on effect impacting their existence. Is anything strategic?”

“We may be losing what we would not have lost had all things been equal – once it has gone it will be much harder to replace.”

The current performance index (a combination of profitability and cash flow) stands at 98 from 93 last month, the change index (capacity utilisation, staff levels, orders and inventories) sits at 99 down from 101 last month, the forecast index (investment, sales, profitability and staff) remains on par with last month at 96.

“Our members look to the new Government to deliver coherent policies targeted at encouraging and supporting productive investment and growth.”

Constraints focused on staff ~7%, markets ~87%, capital ~7% and capacity was not noted as a constraint.

Staff numbers reported a fall in the month of around 0.3%.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>

ALSO:



Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>