New Zealand’s total manufacturing sales rise in Q2

New Zealand’s volume of total manufacturing sales rose in the second quarter on a sequential basis after falling in the prior quarter. Total manufacturing sales grew 1 percent, as compared with the drop of 0.2 percent in the first quarter, showed Statistics New Zealand. The volume of meat and dairy product manufacturing grew in the second quarter, along with the value of sales. After adjusting for seasonal effects and removing price changes, the meat and dairy product manufacturing volumes grew 8.2 percent in the second quarter.

Overseas Trade Indexes recorded that the dairy export volume was up 19 percent, while the meat export volume rose 2.5 percent in the second quarter. Values of sales also rose 13 percent, reflecting rises in both meat and dairy product prices. Business Price Indexes recorded a 3.4 percent rise in dairy product manufacturing output prices in the second quarter.

The actual volume of total manufacturing sales grew 0.4 percent in the second quarter of last year. When price changes are included, the value of manufacturing sales came in at NZD 26.6 billion in the second quarter of this year, up NZD 2.3 billion from the same quarter of last year, stated Statistics New Zealand.

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