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Meat and dairy boost manufacturing sales
Meat and dairy boost manufacturing sales
Embargoed until 10:45am – 07 September 2016
A lift in meat and dairy manufacturing helped increase total manufacturing sales in the June 2016 quarter, Statistics New Zealand said today.
After adjusting for seasonal effects, the volume of total manufacturing sales rose 2.8 percent in the June 2016 quarter, with meat and dairy product manufacturing volumes rising 8.6 percent.
"This quarter's large rise in meat and dairy manufacturing sales followed a sizeable fall in the March 2016 quarter," business indicators manager Tehseen Islam said.
"Despite some large movements in recent quarters, the sales volumes for meat and dairy have increased just slightly from where they were in early 2014," Mr Islam said. "This contrasts with the sales values, which have dropped significantly since then, mainly due to falling dairy prices."
Dairy manufacturing prices were 33 percent lower in the June 2016 quarter than in the March 2014 quarter, while meat manufacturing prices were 4.2 percent higher.
The trend for the meat and dairy product manufacturing sales value (which includes price effects) has fallen 20 percent since a series high in the March 2014 quarter, while the volume trend has risen 3.2 percent over the same period.
EconomicSurveyofManufacturingJun16qtr.pdf
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