RTTNews - Monday, a report by Statistics New Zealand showed that the manufacturing sales volume rose a seasonally adjusted 0.2% sequentially in the first quarter, following a 5.5% drop in the fourth quarter. Moreover, this was the first time the sales volume reached positive territory since December 2007. Total sales volume were up mainly due to a 23.1% rise in the sales volume of meat and dairy product manufacturing.
However, excluding the meat and dairy product group, sales volume dropped 6.5%, the largest fall since the series began in June 1994.
Meanwhile, the seasonally adjusted sales value fell 0.9% in the first quarter, representing the third quarterly decline in sales since March 2008. In the fourth quarter, sales decreased 0.1%. Excluding the meat and dairy product manufacturing, sales were down 5.5% in the first quarter.
On the basis of the trend series, the manufacturing volume showed an average quarterly fall of 1.6% since the September 2007 quarter. Excluding the meat and dairy industry, manufacturing volume decline by an average 3.9% since March 2008.
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