Manufacturing sales hit 10-year low

Manufacturing sales volumes have fallen to their lowest point in 10 years, says Statistics New Zealand (SNZ).

SNZ data released today showed manufacturing sales volumes fell 1.8 percent in the June quarter, the third consecutive decrease.

However the value of manufacturing sales, seasonally adjusted, rose 3.1 percent, driven by a 13.9 percent increase in the meat and dairy industry.

When meat and dairy product manufacturing was excluded, volumes fell 3.6 percent and the value of sales fell 2.2 percent

Falls were recorded for 10 of the 15 industries, spokeswoman Louise Holmes-Oliver said.

The 'other food industry', which includes seafood, and fruit and vegetables had the largest decrease, was down 5.7 percent.

The other top contributors to the fall in manufacturing included meat and dairy, textiles and apparel, beverages, malt and tobacco; and the structural, sheet, and fabricated metal industries.

However a 15 percent rise in the basic metal industry partly offset that fall, said Ms Holmes-Oliver.

Trends indicated the volume of manufacturing had been falling since the September 2007 quarter, excepting two flat quarters last year, she said.