“REAL PROGRESS IN INDUSTRY”

Press, Volume LXXVII, Issue 23263, 25 February 1941, Page 8

“REAL PROGRESS IN INDUSTRY”

1939-40 STATISTICS REVIEWED j MINISTER PLEASED WITH RESULTS Official figures just released relative to the manufacturing industries in New Zealand for the-year 1939-40 tell a story of real progress, the Minister for Industries and Commerce (the Hon. D. G. Sullivan) said yesterday. In spite of the war situation, steady gains were made. “Over the last five years the Dominion has added to the payrolls of productive industry an ‘average of about 5000 persons annually,” Mr Sullivan said. “For the year ended March .31, 1940, the number of persons engaged rose from 102,435 to 108,722, an increase of 6287. Salaries and wages paid rose by £1,190,539 to reach the figure of £24.460,549. An increase of £9,617,226 is recorded, in the value of materials used, bringing this to £84,961,407. The value of.the products reached the splendid total of £129,661.826, as against £113,691,556 for the previous year, an increase of £15,370,270. Added value, that is, the wealth created by our manufacturing industries, rose by £5.513,036, increasing from £38,607,383 to £44,120,419. Those figures demonstrated . very clearly the measure of progress, and it would generally be agreed, Mr Sullivan said, that the record of the year 1939-40 should give cause for satisfaction. More created wealth, more spending power in the hands of the people, more and more goods pouring out of factories and workshops, more opportunity for young people—all those were represented in the figures, and he expressed his admiration to the manufacturers who had made it possible. Their initiative, cooperation and confidence had helped substantially in the march of progress. *‘T know that the work accomplished and in the process of being accomplished so far as the expansion of manufacturing is concerned, will be very helpful in the great work of rehabilitation that awaits us when peace is restored.” Mr Sullivan concluded.