WELLINGTON: New Zealand manufacturing sales volumes have fallen in the second quarter, driven by the continued decline in petroleum and coal, and in meat and dairy.
TOTAL seasonally adjusted sales volumes declined 0.2 per cent in the three months ended June 30, following a 0.3 per cent drop in the first quarter, according to Statistics New Zealand.
The volume of dairy and meat, the nation’s two largest exports, fell 0.6 per cent and excluding those two industries, volumes rose 0.6 per cent. The volume of sales for the petroleum and coal product industry, which don’t tend to follow a stable seasonal pattern, fell 5.2 per cent, following two quarters of gains.
But in current prices, the total value of manufacturing sales rose 0.4 per cent in the second quarter, as a 1.6 per cent decline in dairy and meat manufacturing was offset by a three per cent gain for transport equipment, machinery and equipment manufacturing.
