Manufacturing hit by rising costs
Freight and energy costs are affecting significant mid and long-term development of Canterbury manufacturing industries, according to an economic survey made by the Canterbury Manufacturers’ Association. However the survey indicates that there is short-term confidence in the area, and that retail sales are above the New Zealand average. The survey, conducted during March by a director of Business and Economic Research, Ltd, Mr N. L. Macbeth, in consultation with the director of the association (Mr I. D. Howell) drew on 86 completed questionnaires from firms which employ nearly 10,000 workers (almost a third of Canter-
b u r y ’ s manufacturing labour force) and have annual total sales of more than S2OOM. It showed a drop in production volume among food-processing, buildingmaterials, and textile and clothing firms. Engineering firms maintained production over all (some expected significant increases this year), and firms producing household appliances and furniture, and such other goods as printing, electronics, and rubberware also reported improvements. Employment figures generally showed only minor fluctuations. Household appliance and furniture firms, however, reported a 4.5 per cent rise in over-all employment, and buildingmaterials firms showed a 2 per cent drop — a re-
flection of the fall in building activitiy. Mr Macbeth, commenting on the survey, emphasised the importance of distinguishing between value and volume in business statistics. “Any businessman who thinks he is winning when the cash register tells him that sales are up 10 per cent while his invoices tell him that his costs are up 15 per cent is heading towards bankruptcy,” he said. The survey figures were thus related to the Government Statistician’s general price index, which showed that prices paid by New Zealand producers were about 12 per cent higher than in the previous year. More surveys are planned by the Manufacturers’ Association.
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Press, 17 April 1979, Page 1
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301Manufacturing hit by rising costs Press, 17 April 1979, Page 1
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