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

 

Capital Goods Price Index Rises 0.9 Percent

Capital Goods Price Index Rises 0.9 Percent

Capital goods prices rose 0.9 percent in the March 2004 quarter, when compared with the December 2003 quarter, according to Statistics New Zealand. On an annual basis, the Capital Goods Price Index (CGPI) rose 2.5 percent from the March 2003 quarter to the March 2004 quarter.

The most significant contribution to the overall increase for the March 2004 quarter came from a 1.9 percent increase in the residential buildings index. The main reasons cited by respondents for this quarter's price increase were the rising costs of subcontractors' charges, construction materials and labour. This is the sixth consecutive quarter in which the residential buildings index has been the most significant upward contributor to the CGPI. In the year to the March 2004 quarter, the residential buildings index rose by 8.8 percent.

The increases in residential and non-residential buildings were partly offset by a 0.5 percent fall in the plant, machinery and equipment index and a 0.4 percent fall in the transport equipment index in the March 2004 quarter. Respondents cited a favourable exchange rate as the main reason for this quarter's decreases in both of these indexes. The plant, machinery and equipment index has recorded quarterly falls in the last nine quarters, and is now 6.4 percent lower than in the December 2001 quarter.


Brian Pink

Government Statistician

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>