Manufacturing Sales Increase 3.2 Percent

Manufacturing Sales Increase 3.2 Percent

Seasonally adjusted manufacturing sales for the March 2004 quarter increased by 3.2 percent, compared with the December 2003 quarter, according to Statistics New Zealand. With the effect of price changes removed, seasonally adjusted manufacturing sales increased by 2.5 percent over the same period.

Thirteen of 15 industries recorded increases in seasonally adjusted sales in the March 2004 quarter, compared with the December 2003 quarter. The two largest increases were for meat and dairy product manufacturing, up $155 million (3.8 percent) and wood product manufacturing, up $85 million (7.9 percent).

Transport equipment manufacturing, down $77 million (12.1 percent) and petroleum and industrial chemical manufacturing, down $23 million (3.0 percent), were the only industries to record decreases in sales.

The trend in total manufacturing sales increased 2.5 percent in the March 2004 quarter, compared with the December 2003 quarter. This follows increases of 2.2 percent in the December 2003 quarter and 1.1 percent in the September 2003 quarter.

The value of finished goods stocks as at 31 March 2004 was 0.3 percent higher than at same time last year.

Brian Pink

Government Statistician

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