SEASONAL DECLINE.

Auckland Star, Volume LXX, Issue 190, 14 August 1939, Page 4

SEASONAL DECLINE.

BUSINESS ACTIVITY.

SHARP FALL IN EXPORTS,

IMPORTS PARTICULARLY HEAVY

Indicators of the state of internal business activity in New Zealand, while showing seasonal decreases, compare favourably with those of recent years, according to

the l-Tfest issue of the Abstract of Statistics covering the month of June.

The value of exports in June showed a substantial deciease 011 the May total, and was considerably lower than the figure for June, 1938. Imports, on the otlher hand, were particularly heavy for a June month, the declared value being £5,1.97,541, compared with £3,583.123 for June,. 1938. 'Pile total value of imports during May and June of this year was £ 10.535,434. an increase of £2.768.528 on the total for the same two months of last y car.

The averncc value of bank debits for • June was 6.5 per cent above flint for June. 1938. Active bank note circulation continued at a very high level, the June average being 19.7 pel cent and 33.5 per cent respectivolv alvove the averages lor June. 1938. and 1937.

While following the normal seasonal trend the volume of cheque transactions has been at levels considerably in advance or those operating in the firs* six months of 1938. and during the last two months exceeded the record fiirtircs of the MayJune period of 1937. The average amount en deposit wit'h the trading banks fell fiom £67.388.447 in May to £65.678.735 in June. There was little change in the volume of bank advances. The ratio of advances to deposits rose from 53.07 in May to 85.16 in • 1 line.