Manufacturing sales volume down
15 December 2008
The seasonally adjusted volume of manufacturing sales decreased 2.3 percent in the September 2008 quarter, following a decrease of 1.1 percent in the June 2008 quarter, Statistics New Zealand said today.
The sales volume is now at its lowest level since the first half of 2003. Although the volume of sales is down, increased prices led to a rise of 1.3 percent in the seasonally adjusted value of manufacturing sales in the September 2008 quarter. This follows a decrease of 0.5 percent in the June 2008 quarter.
Industries other than meat and dairy product manufacturing drove the overall decrease in seasonally adjusted sales volume, with a fall of 3.2 percent in the September 2008 quarter. Three industries each contributed about one-fifth of this decrease: structural, sheet and fabricated metal products; paper and paper products; and machinery and equipment. The main increase was for the transport equipment manufacturing industry.
The meat and dairy product manufacturing industry was relatively flat this quarter with a seasonally adjusted sales volume rise of 0.3 percent. However, the value of sales rose 3.0 percent because of price increases for meat and meat products.
The manufacturing sales trend continues to rise but at a slower rate in the last two quarters than in the four quarters ended March 2008.
Government Statistician 15 December 2008