New Zealand Q4 Manufacturing Activity Falls 1.8%

(RTTNews) - Total manufacturing activity slipped a seasonally adjusted 1.8 percent on quarter in the fourth quarter of 2016, Statistics New Zealand said on Wednesday.

That follows the downwardly revised 1.5 percent increase in the third quarter (originally 2.1 percent).

Excluding meat and dairy product manufacturing, sales fell 0.6 percent, while meat and dairy product manufacturing fell 5.7 percent.

"The fall in meat and dairy sales volumes followed rises in the previous two quarters," business indicators senior manager Neil Kelly said. "In contrast, sales values were up more than $350 million, mainly reflecting a sharp rise in dairy product prices."

The value of manufacturing activity was up 0.8 percent, up from 0.4 percent in the three months prior.

Excluding meat and dairy product manufacturing, sales rose 0.5 percent. Meat and dairy product manufacturing rose 5.2 percent.

The trend for the total manufacturing sales volume, which gives a longer-term picture of movements, has been mainly rising since mid-2013 but now appears to be easing, the bureau said.

The actual volume of total manufacturing sales was up 0.9 percent on year.

When price changes are included, the value of manufacturing sales was NZ$26.9 billion in Q4, up NZ$512 million (1.9 percent) from a year earlier.