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

 


NZ producers’ prices fall in 4Q on lower electrity demand

NZ producers’ prices fall in fourth quarter on lower electricity demand

Feb. 20 (BusinessDesk) – New Zealand producers’ input and output prices fell in the fourth quarter, driven by lower electricity prices as demand softened during warmer summer weather and lake levels remained high.

Producer output prices, which measures the prices received by New Zealand producers, fell 0.4 percent in the final three months of 2013, according to Statistics New Zealand. Input prices, representing the prices of goods and services used by New Zealand producers, fell 0.7 percent in the quarter.

The output price index for electricity and gas supply fell 8.7 percent in the quarter, as prices for generated electricity fell with lower summer demand and high lake levels, consistent with a decline in the electricity and gas supply output price index for December quarters since 2006. The input price fell 9.8 percent, the fastest pace of decline since the September 2012 quarter, due to lower electricity generation prices and electricity spot-market conditions, the government statistician said.

“Lower electricity prices, influenced by lower demand in summer months and higher lake levels, contributed to both the lower input and output PPIs in the latest quarter,” prices manager Chris Pike said.

The output prices for dairy product manufacturing fell 0.2 percent following gains of 14 percent in each of the two previous quarters, as manufacturers received lower export prices for butter and cheese.

The dairy cattle farming output price index was unchanged in the December quarter after reaching a record in the September quarter, as the forecast farm-gate milk price for the 2013/14 season was unchanged from the previous quarter.

Meat and meat product manufacturing input prices rose 1.9 percent due to higher prices for prime sheep and lamb.

The price index for export logs rose 4.3 percent in the quarter due to higher overseas demand, up 23 percent for the year, the highest annual increase in three years. The price index for domestic logs rose 2.2 percent in the quarter, reflecting higher demand associated with more new house consents.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news