BRITISH TRADE

Greymouth Evening Star, 16 March 1935, Page 7

BRITISH TRADE

ENCOURAGING RETURNS. (BRITISH OFFICIAL WIRELESS.] RUGBY, March 14. The British overseas trade figures for February are regarded as encouraging. They support the evidence provided early in the week by the Ministry of Labour. The returns, which showed a substantial increase during February, in numbers employed, are further borne out by the announcement that a fresh expansion in steel and iron output also occurred last month. The rise of £4,038,000 in exports represents an increase of 13 per cent., while imports were again reduced showing a decline of £1,602,000 on those of February, 1934. Compared with those of January, exports also show a rising tendency, allowing for the shorter working month, namely 24 days against 27. The average daily exports are over 8 per cent higher. Reckoned on the same basis, imports are down by about 10 per cent. The increased activity in heavy trade is shown by the fact there were 97 furnaces in blast in Britain In February, compared with 94 a month earlier. Compared with February, 1934, the pig iron output increased to 483,100 tons from 414,000, and steel to 769,300 from 707,500. On the stock exchange, this morning British Government stocks developed renewed strength, stimulated by the encouraging trade figures. Other markets were mostly steady.

WOOL FOR GERMANY. LONDON, March 15. The Board of Trade returns show that exports of wool tops to Germany Januarj* and February were valued at £647,016 compared with £165,830 in the corresponding period of 1934. Worsted was valued at £265,669 compared with £153,538.