Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Manufacturing Growth Sustained

Economic Survey of Manufacturing: March 2000 quarter

Manufacturing Growth Sustained by Recovery in Agricultural Sector

Manufacturing sales rose by 2.0 per cent in the March 2000 quarter after seasonal variations were removed, according to Statistics New Zealand's latest Quarterly Manufacturing Survey.

However, if the effect of price increases is removed, the overall volume of sales increased by 0.6 per cent.

Over half the increase in sales came from meat and dairy product manufacturing which recorded seasonally adjusted sales of $3,013 million. This is 5.1 per cent higher than the December 1999 quarter and exceeds the previous highest quarterly total of $2,915 million achieved in March 1996. After adjusting for inflation, sales increased by 3.8 per cent. Sales of meat and dairy manufactured products fell sharply between September 1998 and June 1999 due to falling world prices and the effects of successive droughts, which reduced livestock availability. However, the current season, which commenced in September 1999, has benefited from favourable climatic conditions, stronger overseas markets and a lower New Zealand dollar.

If meat and dairy processing industries are excluded, sales volumes for the remaining manufacturing industries are estimated to have fallen 0.2 per cent over the quarter.

The upturn in sales, which began in the June 1999 quarter, coincides with a depreciation of the New Zealand dollar. The Trade Weighted Index (TWI) which measures the relative exchange rates of New Zealand's major trading partners was 10.3 per cent lower in March 2000 than in May 1999. The lower New Zealand dollar has both increased the returns to New Zealand exporters and the cost of imported intermediate goods which feed into domestic production. The price of manufacturing inputs, as reported in the Producers Price Index, were on average 1.3 per cent higher in the March 2000 quarter.

Ian Ewing
DEPUTY GOVERNMENT STATISTICIAN

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Space: They Landed Robots On An Asteroid

On September 21, the small compact MINERVA-II1 rovers separated from the Hayabusa2 spacecraft... both rovers landed on the surface of asteroid Ryugu. The two rovers are in good condition and are transmitting images and data. More>>

RNZ: Court Of Appeal Rejects NZME-Stuff Merger

The Court of Appeal has turned down the proposed merger between media companies NZME and Stuff... The Commerce Commission had turned down the merger because of concerns about concentrating too much commercial and editorial power in one organisation. More>>

ALSO:

Cut Before Using: Australian Strawberries Withdrawn

Needles were found in a punnet of strawberries sourced from Western Australia, which was bought in a Countdown supermarket in Auckland. The Choice brand of strawberries was sold nationwide last week. More>>

ALSO:

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark… More>>

ALSO: