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


GST Sales Up

Business Activity (GST) Indicator - March quarter

Seasonally adjusted GST sales have increased for the five months to March 1999 after a slight dip in October 1998 monthly sales. The trend in GST sales is now increasing after declining in the first half of 1998. Seasonally adjusted net GST sales (sales less purchases) also increased for the three months of the quarter.

Sales increased 2.3 per cent in March 1999, following a 2.5 per cent increase in sales in February and a 1.4 per cent increase in January. Actual sales in March 1999 were more than $30.2 billion dollars, the highest level recorded in the series and 9.1 per cent higher than the result this time last year. Most industrial divisions showed growth over the three months, however, seasonally adjusted government administration and defence sales fell in January and February 1999.

Some of the strongest growth was in finance and business services revenues. Traditional business services industries which have shown steady growth, such as legal, accounting, insurance, marketing and business services, were joined by commercial property operators and developers, real estate agents and the computer services industry.

This is the fourth release of the experimental Business Activity Indicator, a new monthly series of economic statistics based on GST data supplied by the Inland Revenue Department. During the experimental series phase, further releases of the indicator are planned around the time of the quarterly Gross Domestic Product release. Previous periods will be subject to revision as improvements are made to the methodology and more is learnt about the base data.

Len Cook


5 July 1999

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news