Confidence rises but exports plummet

The latest New Zealand Manufacturers and Exporters Association Survey of Business Conditions shows total sales in December fell 6 per cent compared with December 2008. Export sales fell 7 per cent and domestic sales fell 4pc.

The NZMEA survey's January sample covered $482 million in annualised sales, with an export content of 42 per cent. Net confidence rose to minus 11, up from minus 23 reported last month.

The current performance index (profitability and cashflow) was at 101.5, up from 98.5 in October, the change index (capacity utilisation, staff levels, orders and inventories) went down to 101 from 103.75, and the forecast index (investment, sales, profitability and staff) is at 98.

Staff numbers for December fell year on year by 17 per cent.

- NZPA