The podcast discusses how the Iran war and rising fuel costs are undermining business confidence, particularly in manufacturing, despite some export order stability.
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I think the answer lies further into the report where it comments on the export forward orders holding up quite strongly. And if I look at our own membership base, probably about just slightly under 30% identify as manufacturers and a similar number identify as exporters when actually they're probably both for many of them are. And the export orders, as we know, have been holding things up. But also if you delve into the PMI, the performance of manufacturing one. While manufacturing had come off the boil a little bit, 60 plus percent of the comments were negative and then when we surveyed our own members on the impacts of the fuel crisis, more than 80 percent of them were expecting their own activity to reduce or be impacted negatively. So I think the longer this goes, the more those manufacturing numbers might start to reflect what that overall business confidence number Mm is in the NZIER survey.
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plummeting due to geopolitical shocks
Alan McDonald: EMA Head of Advocacy on Kiwi businesses raising concerns over the war in IranSpotted something wrong on this page? Report a correction.
