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Slower Growth in Manufacturing Sales

Economic Survey of Manufacturing: March 2001 quarter

Slower Growth in Manufacturing Sales

Seasonally adjusted manufacturing sales increased by $80 million to $15,386 million in the March 2001 quarter, according to Statistics New Zealand's latest Economic Survey of Manufacturing. This is a 0.5 per cent increase when compared with the December 2000 quarter. The trend in manufacturing sales has now been increasing since the March 1999 quarter.

If the effects of price changes are removed, the volume of manufacturing sales is unchanged in the March 2001 quarter, having previously increased by 11.8 per cent between the December 1998 and December 2000 quarters.

Six of the 10 industries recorded higher seasonally adjusted sales in the March 2001 quarter, compared with the December 2000 quarter. Meat and dairy manufactured products recorded a $121 million or 3.3 per cent increase in sales. The impact of the drought in the northern and eastern parts of the South Island and the southern part of the North Island on the meat and dairy manufacturing statistics is difficult to determine.

The printing, publishing and recorded media industry reported the second largest increase in seasonally adjusted sales in the March 2001 quarter, up $64 million or 9.9 per cent.

The metal product manufacturing industry recorded the largest decrease in seasonally adjusted sales in the March 2001 quarter at $1,545 million, down $114 million or 6.9 per cent. Seasonally adjusted sales for this industry reached a high point of $1,659 million in the December 2000 quarter.

The value of finished goods stocks at 31 March 2001 was $4,540 million. This is $444 million or 10.8 per cent more than in the March 2000 quarter. At 31 March 2001, raw materials stocks were valued at $2,850 million.



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