Manufacturing: September 2004 quarter

15 December 2004

Economic Survey of Manufacturing: September 2004 quarter -

Manufacturing Sales Down

Seasonally adjusted manufacturing sales for the September 2004 quarter decreased 1.4 percent compared with the June 2004 quarter, according to Statistics New Zealand.

With the effect of price changes removed, seasonally adjusted manufacturing sales decreased 2.4 percent over the same period. Growth in the trend slowed to 0.2 percent in the September 2004 quarter compared with the June 2004 quarter. This follows rises of 1.5 percent in the June 2004 quarter and 3.2 percent in the March 2004 quarter.

Seven of 15 industries recorded decreases in seasonally adjusted sales in the September 2004 quarter compared with the June 2004 quarter. The two largest decreases were for meat and dairy product manufacturing, down $313 million (7.0 percent); and other food manufacturing, down $118 million (6.6 percent). The largest increase in sales was for machinery and equipment manufacturing (up $117 million or 7.1 percent); while structural, sheet, and fabricated metal product manufacturing recorded a 5.3 percent increase in seasonally adjusted sales.

The value of finished goods stocks at 30 September 2004 increased by $36 million, compared with the same time last year, to $5,813 million.

Brian Pink

Government Statistician

ENDS

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