Manufacturing sales bounce back

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The volume of manufacturing sales rose a seasonally adjusted 3.3 per cent 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 per cent, while with that category excluded sales were up 0.5 per cent.

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

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 per cent in the December quarter, with the chemical, polymer, and rubber product sector up 10.1 per cent, metal products up 7 per cent, the transport equipment, machinery and equipment manufacturing sector rose 2.7 per cent, and beverage and tobacco volumes lifted 4.2 per cent.

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

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 per cent rise in metal product values and a 7.2 per cent gain in chemical, polymer, and rubber products.

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

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

- NZPA