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Speaker 1: More good news on the economy in our manufacturing sector,

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Speaker 1: so we see revenue and profitability is up for the

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Speaker 1: first quarter of this year. So we got revenue up

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Speaker 1: seven and a half percent, profitability up thirty Food and

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Speaker 1: beverage and building industry, they're the big winners. EMA has

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Speaker 1: had a advocacy, finance and strategy. Allan McDonald is back

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Speaker 1: with this Ellen. Very good morning to you.

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Speaker 2: Morning, my king co Great's on another award.

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Speaker 1: You're very kind, thank you very much. So when I

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Speaker 1: look at the PMI, as I do, is that reflective

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Speaker 1: of what's actually going on along with things like the

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Speaker 1: confidence measures that seem to be all over the place.

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Speaker 2: Yeah, I think that that corner that would keep turning. Well,

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Speaker 2: it's still some way off. All the indicators are heading

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Speaker 2: in the right direction, and this latest survey kind of

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Speaker 2: it just reinforces the trend. I think that you're seeing

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Speaker 2: in the PMI and you're seeing in some of the

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Speaker 2: other confidence indicators, which we're all saying that a bit

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Speaker 2: further down the track things go looking much better. But

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Speaker 2: I think the key to that is a bit further

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Speaker 2: down the track.

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Speaker 1: Okay, do we have a trend at this point? Because

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Speaker 1: I know the PMI is are up at least four

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Speaker 1: months in a row, isn't it.

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Speaker 2: Yeah, coming off a low based Unfortunately, I think that

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Speaker 2: the confidence is returning. It's still pretty patchy. And I

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Speaker 2: think in the latest survey at highlights, for example, the

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Speaker 2: food and beverage industry, and when you look at say that,

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Speaker 2: you know, Apple and Peer returns had a billion for

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Speaker 2: the first time, dairy record prices, red meat going strongly

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Speaker 2: vesper with a record crop and high prices as well,

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Speaker 2: you would expect some confidence in that sector. It also

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Speaker 2: happened to be at a celebration of the space industry

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Speaker 2: earlier week and Peterbecks reporting a six hundred percent boost

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Speaker 2: in revenue year on year. It's amazing, amazing number.

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Speaker 1: It's good to be able to talk in a country

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Speaker 1: of five million people of a space industry. A couple

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Speaker 1: of numbers at you. Beverage manufacturing revenue doubled to two

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Speaker 1: hundred and forty five thousand for the quarter, Food manufacturing

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Speaker 1: up one hundred and thirteen percent. So what you're saying is, yeah,

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Speaker 1: those headline numbers look good, but they're off low bass.

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Speaker 1: Is that what you're saying?

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Speaker 2: Yeah, And I'm not quite sure on the sample size

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Speaker 2: because that particular study has done over three countries and

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Speaker 2: fifteen hundred businesses. So I think it's more important that

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Speaker 2: it reinforces the trend night rather than.

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Speaker 1: The content, because here's the text, and this will give

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Speaker 1: you some context. Morning, Mike. You're saying manufacturing New Zealand's booming.

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Speaker 1: What drugs are you taking managing a sizeable manufacturing plant,

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Speaker 1: which is one of five in New Zealand. I can

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Speaker 1: assure you it's in survival mode. It's not likely to

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Speaker 1: end well for several hundred people at one plant. Is

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Speaker 1: that real or not?

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Speaker 2: That's very real, And that's what we're seeing on the

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Speaker 2: ground still is that, as I said earlier, it's still

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Speaker 2: quite patchy. And I know a lot of our manufacturers

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Speaker 2: are keeping a very wary eye on the energy pricing

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Speaker 2: because another winter with those massive spikes. Now we've gone

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Speaker 2: from energy pricing it was internationally competitive to actually shutting

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Speaker 2: our own businesses. And when we're paying large manufacturers to

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Speaker 2: feed energy back into the system instead of actually making stuff,

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Speaker 2: so they're feeding back into the system to keep other

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Speaker 2: people afloat, that does say things are badly wrongly.

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Speaker 1: Oh, I don't want to make it too political, but

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Speaker 1: I mean Ty was in the news for that very

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Speaker 1: reason this week. But when you cut off exploration of

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Speaker 1: gas as they did as a prevent government did, I

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Speaker 1: mean that's bought. It's not only negligent, but it's treasonous,

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Speaker 1: isn't it? Because you must know that this is the

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Speaker 1: outcome we are going to live through.

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Speaker 2: Well, no economies cope with sudden shocks like that, were

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Speaker 2: any sudden shock very well? And you've only got to

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Speaker 2: look at the uncertainty that the White House is creating

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Speaker 2: around the world to see that.

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Speaker 1: All right, mate, you have a good weekend. Preciator Alan McDonald,

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Speaker 1: the EMA head of Advocacy, Finance and Strategy. Do you

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Speaker 1: think anyone's going to hold Hipkins to account for that

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Speaker 1: because he's the last one left. Of course, you would

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Speaker 1: ask Syndra if she could be bothered leaving Boston, or

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Speaker 1: you'd ask granted be came out of his cloistered environs

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Speaker 1: of a tago. But Hipkins is the last one left

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Speaker 1: standing watching the coal pile into the country, and Ty

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Speaker 1: was in the news. Didn't get covered enough this week.

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Speaker 1: T Y was allowed to go back and do regular

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Speaker 1: business because they couldn't do regular business because the deal

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Speaker 1: they have with Meridian means they have to curtail their

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Speaker 1: production because we don't have enough power to run this country.

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