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

 

NZ 1Q manufacturing sales volumes lifted

NZ 1Q manufacturing sales volumes lifted by transport equipment and machinery

By Rebecca Howard

June 11 (BusinessDesk) New Zealand manufacturing sales volumes were boosted by transport equipment and machinery manufacturing in the first quarter.

The volume of all manufacturing sales rose a seasonally adjusted 1.4 percent in the three months to March 31 while the value lifted 0.6 percent, Statistics New Zealand said. Nine of the 13 manufacturing industries had sales rises in the March 2018 quarter.

The Stats NZ survey showed that the largest movements were in the equipment and machinery manufacturing, up 6 percent.

“The rise in transport equipment and machinery manufacturing follows a fall in the previous December quarter,” Stats NZ manufacturing statistics manager Sue Chapman said. “The latest rise is the largest since March 2011, and the fourth-largest rise since the series began.”

The sales volume of meat and dairy product manufacturing - which accounts for around a quarter of production - lifted 2.2 percent while the value fell 4.7 percent on the quarter.

Overseas trade indexes show the dairy export volume fell 0.6 percent, while the meat export volume fell 8.8 percent in the March 2018 quarter. Although export volumes fell, the volume of finished goods stocks (which is not seasonally adjusted) for meat and dairy product manufacturing was up 3.7 percent, or $177 million, from the March 2017 quarter, Stats NZ said.

The actual volume of total manufacturing sales was up 2.8 percent on the year. When price changes are included, the value of manufacturing sales was $27.4 billion in the March quarter, up $1.8 billion on the year.

The data is the final component before the release of the March quarter gross domestic product data, due June 21.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

9.2 Percent: Gender Pay Gap Second-Smallest On Record

This is the second-smallest gap since the series began 20 years ago. In comparison, the gender pay gap was 9.1 percent in 2012 (the lowest on record) and 9.4 percent last year. More>>

ALSO:

Forest & Bird: Report Find Council Failures On Effluent

The report exposes significant inconsistencies and gaps in how regional councils are enforcing the rules around dairy effluent management. More>>

ALSO:

Mana In Mahi: Helping Young New Zealanders Into Work

Thousands of young people will be given the chance to gain valuable qualifications and meaningful work under the Mana in Mahi – Strength in Work scheme launched by Prime Minister Jacinda Ardern today. More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May Statement. The direction of our next OCR move could be up or down. ... More>>

Post-Cabinet Press Conference: Trade Stuff

Jacinda Ardern and David Parker's press conference that focused on the government's 'trade for all agenda' plans for widespread consultation on the shape of future trade agreements... More>>

ALSO:

Debt Capital Markets Summit: Grant Robertson On The Economy

"In short, the heart of our Government’s economic plan is to help New Zealand become a more productive, more sustainable, and more inclusive economy in which all New Zealanders can thrive." More>>

ALSO: