After three quarterly falls, manufacturing volumes up

Friday 1st April 2011

The volume of manufacturing sales rose a seasonally adjusted 3.3% in the December quarter from the previous three months, for the first gain in four quarters, Statistics New Zealand (SNZ) says.

Meat and dairy product volumes were up 7.9%, while with that category excluded sales were up 0.5%.

Manufacturing values were up 3.1%, with meat and dairy up 7.3%, while the rest gained 0.8%.

The rise in the volume of manufacturing sales in the three months to December followed three quarters of consecutive decreases, SNZ said.

Metal product manufacturing volumes gained a seasonally adjusted 7% in the December quarter, with the chemical, polymer, and rubber product sector up 10.1%, metal products up 7%, the transport equipment, machinery and equipment manufacturing sector rose 2.7%, and beverage and tobacco volumes lifted 4.2%.

Wood and paper product manufacturing volumes fell 4.2%, while textile, leather, clothing, and footwear manufacturing was down 5.7%.

Sectors, other than meat and dairy, that contributed to the seasonally adjusted rise in manufacturing sales values in the December quarter, included a 5.5% rise in metal product values and a 7.2% gain in chemical, polymer, and rubber products.

Beverage and tobacco product values gained 4.9% and wood and paper products were down 5.2%.

The volume of finished goods stocks, which was not seasonally adjusted, was 8.8% lower in the December quarter than a year earlier, with the biggest fall being a 36.9% drop in the petroleum and coal industry, SNZ said.

NZPA

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