A BUSINESS REVIEW

Evening Post, Volume CXX, Issue 87, 9 October 1935, Page 12

A BUSINESS REVIEW

UPWARD TREND

EXPORT VALUES BETTER

BUOYANT IMPOHTS

After making due allowance for seasonal factors, the Government Statistician discerns in data illustrative of business activity in August "a continuation of the upward trend manifest during recent months."

Since August is definitely one of the slackest months of the year in respect of farm production, the Government Statistician remarks, that some diminution in business activity is to be expected in that month. The volume of exports in August showed the usual seasonal falling-off; while the number of men a charge on the Unemployment Fund on August 31 (58,225) has increased by 1.14 per cent, over the total of the third day of that month. The end of August returns, however, reveal a decrease of 7.60 per cent, as compared with the figures at that time last year, so that it is evident that unemployment is considerably lower than was the case a year ago. THE BUILDING TRADE. Statistics of buileiing permits issued in the larger towns indicate that the recent increase in building activity is being well maintained, particularly in respect of the construction of dwellings. The trend of land transfer transactions and mortgage registrations is also definitely upward, registrations in recent months showing a marked increase. The value of imports of merchandise during the month of August (£3,621,941) was the highest monthly total since October 1930. This buoyancy in imports, combined with the seasonal falling-off in exports, , resulted in an excess of imports for the month amounting to £746,296. There has been some diminution in the net overseas funds (on account of New Zealand business) of banks operating in the Dominion, while deposits within New Zealand have decreased and advances have risen. These are, however, the usual accompaniments of an excess of commodity imports.' Sales tax collected during August totalled ( £201,446, this total having been exceeded only once this year, in January, when the figure was £211,137. Sales tax collections during the expired eight months of the current calendar years were 13.47 per cent, higher than in that period of 1934, Prices of New Zealand produce on overseas markets have shown a considerable improvement in recent months. Although most recent advices indicate "some- hesitancy in the upward trend in wool values, prices of meats have recently shown-advances while butter prices have maintained a definitely buoyant trend for some months past. A brief review of the butter market is given, this being the first sustained upward movement in recent seasons.^, BANKING POSITION, Statistics of the average weekly value of bank debits to individual customers accounts reveal a slight fall as compared with the position during the previous month, but are substantially higher than in August of the preceding four years. Since August is normally one of the slackest months of the year in respect of general business activity, relatively low. statistics, of bank debits for that month are to be expected. During the current year however, the seasonal slackening in business activity would appear to be considerably less than is normal judging by the trend of several significant statistical series. The number of men a charge on the Unemployment Fund is higher than it has been since October last year when it reached 59,327. As at August 31 the numbers were as follows:—Registered unemployad, unplaced, or ineligible for relief, 2581; in receipt of sustenance without work, 15,347 (6431 on October 27 1934); an rationed work, 25,265; in full-time subsidised employment, 17,613 (22,021 October 27 1934) Total charge on the fund, 58,225.