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

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news