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Capital Goods Price Index: December 1999 quarter

Capital Goods Price Index: December 1999 quarter

Falling Exchange Rates Push Capital Asset Prices Up

Capital asset prices were 0.6 per cent higher in the December 1999 quarter following a 0.4 per cent rise in the September 1999 quarter.

This is the third consecutive quarter that the All Groups index has recorded an increase, said Deputy Government Statistician Ian Ewing when releasing the latest Capital Goods Price Index figures.

The December 1999 quarter's rise is the largest quarterly increase in 5 years, with all major asset group indexes increasing for the second consecutive quarter.

Prices for plant machinery and equipment, which now account for over 45 per cent of the redeveloped

All Groups index, increased by 0.4 per cent in the December 1999 quarter. Most of the new sub-indexes increased within this asset group and appear strongly influenced by the depreciation of the New Zealand dollar over the last few months.

The Capital Goods Price Index has been upgraded to incorporate up-to-date weighting information that reflects current patterns of capital asset acquisition by New Zealand industry.

Ian Ewing
Deputy Government Statistician
END



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