New Zealand Manufacturing Sales down -0.6% for the fourth quarter, adding to previous -3.2%

Joshua Gibson FXStreet

New Zealand's Manufacturing Sales activity decreased -0.6%, or $226 million in NZD terms compared to the third quarter's $900 million backslide, equating to a 3.2% decline.

According to Stats NZ:

In actual terms, the volume of finished goods stocks for total manufacturing fell 1.4 percent ($139 million) in the December 2023 quarter compared with the December 2022 quarter.

In actual terms, total manufacturing purchases fell $2.3 billion (8.7 percent), and salaries and wages rose $244 million (5.0 percent) compared with the December 2022 quarter.

When adjusted for seasonal effects, the total value of wholesale trade sales fell 1.0 percent ($368 million) in the December 2023 quarter, following a 0.1 percent ($41 million) rise in the September 2023 quarter.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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