About-face for New Zealand manufacturing trends

About-face for New Zealand manufacturing trends

New Zealand's manufacturing sales trend saw a 2.0% decline during the final two quarters of 2004, said Statistics New Zealand, marking a change in direction after sales had risen 7.2% over the previous five quarters (March 2003-June 2004). Seasonally adjusted manufacturing sales figures for the final quarter of 2004 showed decreases of 1.1% from the third quarter and 1.2% from the final quarter of 2003. Six of 15 industries posted fourth quarter decreases in seasonally adjusted sales when compared to the third quarter. Basic metal manufacturing was one of the biggest losers, falling off more than NZ$133 million (US$98.7 million). On the other hand, transport equipment manufacturing recorded a NZ$62 million (US$46 million) increase.