Monday 11th June 2018
|Text too small?|
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.
No comments yet
Steel & Tube turnaround continues with 49% jump in first-half net profit
February 18th Morning Report
FIRST CUT: Port of Tauranga lifts 1H profit 4%
NZ dollar starts the week with a tailwind as positive US-China trade talks boost sentiment
Tax Working Group's capital gains proposal keenly awaited
MARKET CLOSE: NZ shares dip as global trade jitters weigh on A2, F&P
NZ dollar set for weekly gain after Reserve Bank surprise
Burger Fuel exploring sale after review questions listing merits
New net migration data to remain rubbery for quite some time
NZX to push sales this year after reshaping business dents 2018 profit