Monday 15th December 2008 |
Text too small? |
The volume of manufacturing sales fell 2.3% to the lowest level since the second half of 2003, according to Statistics New Zealand. The decline was paced by falls in metal products, paper and machinery. The value of manufacturing sales rose 1.3% in the latest quarter.
The manufacturing report helps economists conclude their estimates for third-quarter gross domestic product, which is expected to show a contraction of 0.4%, based on a Reuters survey. It follows the release on Dec. 11 of the Bank of New Zealand-Business NZ Performance of Manufacturing Index, which showed activity sank to a record low in November, with output falling to 29.3, the first time it has fallen below 30.
Today's survey of manufacturing shows the volume of manufacturing sales excluding meat and dairy fell 3.2%. Manufacturing activity rose by an 8.5% annual pace in the third quarter.
No comments yet
CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report