Meat and dairy push up manufacturing sales

Seasonally adjusted manufacturing sales rose 2.9 per cent for the March quarter compared to the December quarter, Statistics New Zealand said today.

The increase was driven by meat and dairy product manufacturing, which rose 13.9 per cent or $560 million compared to the December quarter.

After meat and dairy the next largest increase was in basic metal manufacturing, up 16.2 per cent or $84 million. This rise followed a fall of 3.5 per cent in the December quarter.

The biggest fall was for machinery and equipment manufacturing, down 9.4 per cent or $160 million, followed by transport equipment manufacturing, down 11.9 per cent or $77 million.

Nine of the 15 industries surveyed posted rises in seasonally adjusted sales for the March quarter compared to the December quarter.

The value of finished good stocks as at March 31 was $7.352 billion, up $356 million, or 5.1 per cent, compared to the same time last year. The largest increase was for meat and dairy product manufacturing, up $91 million to $2.931 billion.

The level of raw material stocks for total manufacturing increased 15 per cent on the same time last year, to $2.980 billion.

- NZPA