Factory Output Over £l000m

Press, Volume CVI, Issue 31124, 29 July 1966, Page 14

Factory Output Over £l000m

(New Zealand Press Association) WELLINGTON, July 28. New Zealand factory production exceeded £lOOO million for the first time in the 1964-65 year, the Government Statistician (Mr J. V. T. Baker) said today

Releasing results of the latest annual survey of factories, he said the value of production for the year was £lOBB million, an increase of £125.7 million, or 13.1 per cent, on the 1963-64 total. The increase was the highest on record. The increase in the 1963-64 year was 10.4 per cent. The value added in manufacture —the difference between the value of production and the cost of materials — increased from £381.7 million in 1963-64 to £420.6 million in 1964-65. Other significant figures in the 1964-65 survey, with the previous year’s figures in parenthesis, are: number of establishments, 9735 (9365); employees, 211,050 (199,266); salaries and wages, £206 mil-

lion (£184.3 million); cost of materials, £667.1 million (£580.4 million); manufacturers’ surplus, £98.6 (£94.2 million): and overtime worked by wage-earners, 34.8 million hours (30.3 million hours). . . „ j Capital expenditure totalled £47 9 million in 1964-65. compared with £38.6 million in 1963- and £49.4 in 1962-63. Mr Baker said these amounts did not represent that total capital spent on the manufacturing sector during the year, but only that capital introduced by firms already producing at the beginning of each year. However, they indicated increased activity in manufacturing. The survey showed the average overtime worked by all factory wage-earners in 1964- was 244 hours for men and 62 hours for women. The previous year’s figures were 223 hours and 59 hours.