New Zealand Q4 Manufacturing Activity Volume +5.7% On Quarter

(RTTNews) - The volume of manufacturing activity in New Zealand was up a seasonally adjusted 5.7 percent on quarter in the fourth quarter of 2013, Statistics New Zealand said on Monday - following the 1.3 percent increase in the third quarter.

Meat and Dairy product manufacturing was the key ingredient, surging 15 percent on quarter.

"The large meat and dairy volume increase is also seen in export volume rises for dairy and meat products," industry and labor statistics manager Blair Cardno said in a release accompanying the data.

In Q4, dairy exports spiked 23 percent and meat exports climbed 5.5 percent.

"However, it's not all about meat and dairy, with other manufacturing industries also continuing to show increases," Cardno said.

The sales volume for total manufacturing, excluding meat and dairy, was up 0.9 percent in the fourth quarter, following a 2.9 percent increase in Q3. Sales for eight of the other 12 manufacturing industries rose.

The main industry movements were: transport equipment, and machinery and equipment manufacturing, up 5.9 percent; and fruit, oil, cereal, and other food manufacturing, up 5.0 percent.

The trend for the total manufacturing sales volume, which gives a longer-term picture of movements, is now rising - following a low point in the June 2013 quarter, the bureau said.

By value, manufacturing activity was up 6.3 percent on quarter to NZ$1.5 billion - up from 6.2 percent in the previous three months. Meat and dairy product manufacturing increased 18 percent (NZ$1.3 billion), with dairy prices remaining at high levels.