Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Manufacturing statistics very disappointing

Warren Kyd

MP for Hunua

Opposition Manufacturing & Small Business Spokesperson

13 September 2000

Manufacturing statistics very disappointing

New Zealand's manufacturing sector is finding the going tough, Opposition Manufacturing and Small Business Spokesperson Warren Kyd said today

"Since the election and the implementation of controversial ACC and Employment legislation, manufacturers have made a conscious decision not to invest in themselves.

"Rising interest rates and tumbling business confidence have driven capital expenditure down a staggering 21.5% from the June 1999 quarter. We're just not seeing extra investment in plant and machinery."

Mr Kyd was commenting on Statistics New Zealand's Economic Survey for the June 2000 quarter released today, which showed the smallest increase in manufacturing sales since December 1998.

"It's disappointing that the increase has been driven by rising prices, particularly within the petro-chemical industries, rather then production increases. What's more, when the inflationary effects are removed, the volume of sales actually fell by 0.6%.

"Today's survey also shows that with the falling New Zealand dollar, manufacturers' margins are being squeezed. While manufacturing output prices have risen 1.4% in the last quarter, input prices have risen more sharply, increasing by 1.7%."

Mr Kyd said consumers would be the ones who feel it in the hip pocket, when manufacturers and retailers are forced to increase prices to regain their margins.

"Alarmingly, the total value of goods in stock is at the highest level since December 1990. This puts pressure on the production process as manufacturers will be questioning how much they need to produce over the coming months."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Supermarket Scam, And On Tunisia’s Scrapping Of Democracy

Are we paying too much for our groceries? Hmm. Is the Pope a Catholic? Given that the two Australian supermarket chains that dominate our grocery industry routinely rack up profits in the order of $22 billion annually, that’s a no-brainer. Yet as with New Zealand’s other socio-economic problems created by our 1980s reforms, the practical solutions seem pretty thin on the ground... More>>


Government: Bill Introduced To Protect Against Conversion Practices

Legislation has been introduced to Parliament to protect against practices intended to change or suppress someone’s sexual orientation, gender identity, or gender expression... More>>


Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>


Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>

NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>

Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>




InfoPages News Channels