BUSINESS REVIEWED

Evening Post, Volume CXXX, Issue 144, 14 December 1940, Page 13

BUSINESS REVIEWED

THE PASSING YEAR

Business activity in the Dominion, remarks the Government Statistician, normally reaches a low level in October. Although the farm production season is under way by the end of that month, the new season's produce does not begin to move in quantity until some time later, while produce of the previous season is usually cleared by this time of the year. This invariably results in a low figure of export trade and a low volume of goods traffic handled by the railways. On the present occasion, however, the value of merchandise exported during October (a particularly high figure for an October month) exceeded the September total by a substantial margin, while railway goods traffic (net tonmiles run) for the latest period available (the four weeks ended October 12) showed an appreciable increase as compared with the immediately preceding period.

Exports for the cumulative period of ten months ended with October, 1940, were valued at £62.255,713, a figure exceeding the total for the full calendar year 1939 (£58.049.316). The record of exports for a calendar year occurred in 1937. when the aggregate value reached £66,713,379, and with two months' returns still to come the total for the full calendar year 1940 should establish a new high level.

Financial indicators present a satisfactory showing for what, is usually an off-season month. Statistics of bank debits indicate a slight increase in the volume of cheque transactions as compared with.October, .1939, Deposits on current account showed a further recession; advances showed an increase.