Manufacturing sales up 3.2 per cent

1.00pm

Seasonally adjusted manufacturing sales rose 3.2 per cent in the March quarter compared with the previous quarter, according to Statistics New Zealand.

With the effect of price changes removed, seasonally adjusted manufacturing sales were up 2.5 per cent.

Thirteen of 15 industries showed increases in seasonally adjusted sales in the March quarter.

The largest increase was in wood product manufacturing sales, which rose $85 million, or 7.9 per cent. This increase followed rises of 2.1 per cent in the December 2003 quarter and 0.4 per cent in the September 2003 quarter.

The next biggest rise was for meat and dairy product manufacturing, which was up $155 million, or 3.8 per cent, compared with a 8.2 per cent increase in the December 2003 quarter and a 7.5 per cent decrease in the September 2003 quarter.

The only industries to record decreases in sales were transport equipment manufacturing, down $77 million, or 12.1 per cent, and petroleum and industrial chemical manufacturing, which fell $23 million or 3 per cent.

The trend in total manufacturing sales increased 2.5 per cent compared to the previous quarter. This follows increases of 2.2 per cent in the December 2003 quarter and 1.1 per cent in the September 2003 quarter.

The value of finished goods stocks as at March 31 was $6,976 million, 0.3 per cent higher than at the same time last year.

Raw material stocks were valued at $2,572 million.

- NZPA