Meat and dairy product manufacturing led a record rise for total manufacturing sales volume in the December 2014 quarter, Statistics New Zealand reported earlier this week.
After adjusting for seasonal effects, the volume of total manufacturing sales rose 5.7 percent, with meat and dairy product manufacturing sales up 15 percent. This follows falls in the June and September quarters and is the largest seasonally adjusted increased since the March 2009 quarter.
“The large meat and dairy volume increase is also seen in export volume rises for dairy and meat products,” says Statistics’ industry and labour statistics manager Blair Cardno.
The Overseas Trade Indexes (Volumes): December 1013 quarter (provisional) figures reported increases of 23 percent in dairy exports and 5.5 percent in meat exports.
The trend indicates that the volume of meat and dairy product manufacturing sales is now rising after a low point in the June 2013 quarter, Statistics NZ says.
“However’, it’s not all about meat and dairy, with other manufacturing industries also continuing to show increases,” says Cardno.
In current prices, the total manufacturing sales value rose 6.3 percent ($1.5 billion). Meat and dairy product manufacturing increased 18 percent ($1.3 billion), with dairy prices remaining at high levels.