New Zealand Q4 Manufacturing Sales Volume Gain 0.5%

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The volume of total manufacturing sales in New Zealand climbed a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2020, Statistics New Zealand said on Tuesday.

That followed the 17 percent surge in the three months prior.

The value of total manufacturing sales fell 0.6 percent or NZ$174 million following the 10 percent spike (NZ$2.7 billion) in the previous three months.

Six of the 13 manufacturing industries had higher volumes of sales in the December 2020 quarter than in the September 2020 quarter.

The largest industry movements were: transport equipment, machinery, and equipment, up 4.8 percent; petroleum and coal products, up 5.2 percent; and wood and paper products, up 2.9 percent.

Eight of the 13 manufacturing industries had higher sales values in the December 2020 quarter than in the September 2020 quarter.

The largest industry movements were: transport equipment, machinery, and equipment, up NZ$152 million (4.7 percent); petroleum and coal products, up NZ$145 million (9.3 percent); and meat and dairy products, down NZ$288 million (3.2 percent).

The volume of finished goods stocks for total manufacturing rose 9.0 percent (NZ$918 million) in the December 2020 quarter compared with December 2019 quarter.

In actual terms, total manufacturing purchases fell NZ$1.6 billion (6.6 percent), and salaries and wages fell NZ$12 million (0.3 percent) compared with the December 2019 quarter.

The total value of wholesale trade sales fell 1.7 percent (NZ$503 million) in the fourth quarter, following a 17 percent (NZ$4.3 billion) rise in the September 2020 quarter.

All six wholesale industries had lower sales in the December 2020 quarter than in the September 2020 quarter.

The movements were: basic material – down 0.1 percent (NZ$5.7 million); commission-based – down 2.2 percent (NZ$9.2 million); machinery and equipment – down 0.3 percent (NZ$17 million); motor vehicles and motor-vehicle parts – down 1.8 percent (NZ$51 million); other goods – down 2.1 percent (NZ$98 million); and grocery, liquor, and tobacco products – down 3.8 percent (NZ$358 million).

The actual total value of wholesale trade stocks held at 31 December 2020 was NZ$12.1 billion, down NZ$970 million (7.4 percent) from 31 December 2019.

In actual terms, total wholesale trade purchases fell NZ$74 million (0.3 percent), and salaries and wages fell NZ$1.6 million (0.1 percent) compared with the December 2019 quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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