Friday, June 14, 2013

Crisis? What crisis?

For the last wee while Labour, the Greens, NZ First and Mana have been involved in an "inquiry" into a supposed crisis in New Zealand manufacturing.

We haven't heard much from them lately, and this may explain why; NBR reports:

New Zealand manufacturing activity rose in May to the highest level since June 2004, led by new orders and production, stoking optimism the economy may be picking up pace.
The BNZ-BusinessNZ performance of manufacturing index rose 4 points to 59.2 in May, the highest level in nine years and the strongest reading for May since the survey began in 2002.
The monthly survey suggests manufacturing may not be as weak as suggested in government figure this week showing sales volumes fell 0.6 percent in the first quarter and indicates companies are confident enough to take on more workers.
Machinery and equipment manufacturing led gains in May, with a reading of 67.4.
"Today's PMI puts upside risk on our manufacturing and overall GDP forecasts over coming quarters," BNZ economist Doug Steel says. "The chances that New Zealand's economic growth this year is stronger than we forecast are increasing."

This is great news for both the manufacturing sector and for the economy in general. Growth in manufacturing will filter through to job growth, and as we have noted previously, job growth is really the last piece in the economic puzzle.

Of course Labour, the Greens, NZ First and Mana won't like this because their inquiry stunt has been undermined. But it is yet another sign that the conservative financial policies adopted by Bill English and John Key were the right medicine for the times, and that the New Zealand economy has weathered the global economic downturn better than most.

If the economy is the most significant election issue in 2014, Key and English are justified in asking the New Zealand electorate for a third term.



10 comments:

AC said...

KS

Latest UMR (Labour internal polling) poll shows Labour tanking. Shearer's performance over the Sky City box is causing real strains. He can't even trust his Chief of Staff. he approached Mike Munro to take on the role earlier in the week. Meanwhile Grant Robertson's role in the theft of the MFAT Cabinet Papers is increasingly widely known around Wellington. Watch this space. If there is a crisis it is not in manufacturing - it is within the innermost circles of the Labour Party.

AC

Edward the Confessor said...

"Grant Robertson's role in the theft of the MFAT Cabinet Papers is increasingly widely known around Wellington."

ROFL. Who's the clueless loser who needs to spin a leak as "theft" in a lame ass smear attempt? National Party Research Unit started drinks early obviously. The leak almost certainly came from one of Munter McCully's many enemies inside the National Party.

Why is comment moderation a permanent feature of this site now BTW?

Anonymous said...

Really Edward? Did the "leak" come from MFAT as Goff and Robertson want you to think or from Treasury or SSC? And if from the later who did the leaking. And who is paying the legal costs of the person who wants his/her name kept secret????

Keeping Stock said...

Fear not Anon; the name of Person A will soon be in the public domain, and we'll all know the reach of Labour's dirty trickery. We'll all then understand why Labour has fought so hard to keep Person A's identity secret.

Keeping Stock said...

@ Edward - if you saw some of the idiocy that moderation picks up, you'd understand.

Anonymous said...

Thanks for this and the subsequent post KS always represents a haven of rational thought.

Cadwallader

Edward the Confessor said...

"Did the "leak" come from MFAT as Goff and Robertson want you to think or from Treasury or SSC?"

In all likelihood it was from within the Executive. McCully is universally despised.

For all the hundreds of thousands paid to Rebstock for the witch hunt she can't even prove it was Person A, but you guys will try and destroy them anyway.

Keeping Stock said...

So why is Labour so desperate to keep Person A's name secret Edward if (s)he wasn't the leaker?

And back on topic; why have Labour and co lied about a manufacturing crisis when the figures show that there isn't one?

Edward the Confessor said...

"So why is Labour so desperate to keep Person A's name secret Edward if (s)he wasn't the leaker?"

Because you guys would then destroy the person's career by smearing them all over town in typical tory fashion. McCully leading the charge. It's the right thing to do.

CJ said...

Edward

You are either Grant or Alf or a fool.

Court hearing Monday. expect egg on your face.

Leak did not come from Mfat. This was espionage.

Robertson will have to resign.

CJ