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GST Sales and Purchases Continue Upward Trend
Business Activity Indicator: December 1999 quarter
GST Sales and Purchases Continue Upward Trend
Latest quarterly analysis of GST sales and purchases show the trend increasing steadily since May 1998 according to Statistics New Zealand.
Seasonally adjusted sales increased by 0.6 per cent in the December 1999 quarter, despite a decline in the October month. The largest contributions to the increase came from manufacturing; retail trade; and agriculture, forestry and fishing. The manufacturing sector sales growth was aided by a broad-based increase in manufacturing input and output prices. Sales in primary industries were helped by favourable weather conditions which encouraged solid grass growth.
GST purchases increased by 2.2 per cent in the December quarter with seasonal factors removed. The largest contributions to the increase came from wholesale trade and manufacturing. A build up of stocks which resulted from higher than normal purchase levels may reflect businesses' plans to cope with possible Y2K disruptions, and extra demand over the millennium period.
Ian Ewing Deputy Government Statistician END
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