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Manufacturing Sales Decrease 0.9 Percent

Manufacturing Sales Decrease 0.9 Percent

Seasonally adjusted manufacturing sales for the December 2002 quarter decreased by 0.9 percent, compared with the September 2002 quarter, according to Statistics New Zealand.

With the effect of price changes removed, seasonally adjusted manufacturing sales increased by 0.1 percent in the December 2002 quarter, compared with the September 2002 quarter.

Eleven out of 15 industries recorded decreases in seasonally adjusted sales in the December 2002 quarter, compared with the September 2002 quarter. Meat and dairy product manufacturing (down $156 million) and machinery and equipment manufacturing (down $62 million) recorded the largest decreases. Petroleum and industrial chemical manufacturing (up $170 million) and beverage, malt and tobacco manufacturing (up $59 million) recorded the largest increases in seasonally adjusted sales.

The value of finished goods stocks, as at 31 December 2002, was $6,179 million. This is $1,643 million (36.2 percent) higher in value than at 31 December 2001. Raw materials stocks were valued at $2,674 million as at 31 December 2002, 3.9 percent higher than at 31 December 2001.

Brian Pink

Government Statistician

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