BUSINESS SURVEY

Evening Post, Volume CXXXI, Issue 117, 20 May 1941, Page 5

BUSINESS SURVEY

RECORD EXPORTS

'IHEMONETARY BAROMETER

t*Ehe Government Statistician in his Survey of economic activity remarks dn the "phenomenal increase" in bank "debits of 20.5 per cent, above March of last year. He also draws attention Xo the sudden rise in bank advances by 10.7 per cent, over* March of last year. "Although there have been minor fluctuations during recent months in the level of bank advances, the general tendency over a lengthy period has been downward, and the latest movement would appear to be of particular significance. No doubt •payment of income tax on a higher 'scale than previously, and the payiment of the final instalment of the (War Loan, contributed .in some measure to both the high level of bank debits and the sharp rise in advances." Primary production returns are generally satisfactory. Merchandise exports established . a new record for a March year, the "total value for 1940-41 being £71,179,430, as compared v with £59,683,938 in 1939-40, and £65,007,946 in 1937-38 (the previous record). There is little doubt that the 1940-41. total would have been even greater but for the shipping difficulties that were experienced during the latter months' of the year. Imports were on a slightly heavier scale than in 1939----40, the increase amounting to £2.346,450. The excess of exports for 1940-41 was £23,261,206, and in 1939----40, £14,112,164. The net amount of overseas funds held on March 31, 1941, was £NZ29,763,415, as compared with £NZ23,009,394 on March 25, 1940. Building activity in 1940-41 was on a slightly lesser scale than in 1939----40, the value represented by permits issued in the larger centres showing a reduction of approximately 2 per cent.