Domestic sales increase

The latest New Zealand Manufacturers and Exporters Association (NZMEA) Survey of Business Conditions, completed during April 2017, shows total sales in March 2017 increased 2.93% (year on year export sales decreased by 8.10% with domestic sales increasing by 17.95%) on March 2016.

In the 3 months to March, export sales decreased an average of 9.4%, and domestic sales increased 7.1% on average.

The NZMEA survey sample this month covered NZ$360m in annualised sales, with an export content of 51%.

Net confidence rose to 23, up from 0 in February.

The current performance index (a combination of profitability and cash flow) is at 97, down from 98.3 last month, the change index (capacity utilisation, staff levels, orders and inventories) was at 102, up from 100 in the last survey, and the forecast index (investment, sales, profitability and staff) is at 105.33, down on the last result of 106.33.

Anything over 100 indicates expansion.

Constraints reported were 78% markets, 11% skilled staff and 11% capital.

A net 38% of respondents reported a productivity increase in March.

Staff numbers increased 4.31% year on year in March.

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