Manufactured sales static

The volume of manufacturing sales stayed unchanged during the first three months of the year.

Statistics NZ said yesterday that the value of manufacturing sales during the quarter rose by 0.5 per cent to $15.4 billion.

But when the effects of price changes were removed the volume was the same as the previous quarter.

The figures point to a slowdown in an upward trend which has seen manufacturing sales increase by 11.8 per cent since December 1998.

The level of finished stocks at the end of March was 10.8 per cent higher than at the same time 12 months previously, providing a further pointer to slowing sales.

Statistics NZ said the main area of growth was in meat and dairy manufactured products, which rose 3.3 per cent, reflecting higher farm output as a result of a good season.

Sales by wood and paper product manufacturers rose 1.2 per cent during the quarter, but were still 1.6 per cent down on a year earlier.

The printing, publishing and recorded media industry had an impressive 9.9 per cent rise in its sales.

The metal manufacturing industry recorded the largest decrease, of 6.9 per cent.