TRADE IMPROVEMENT

Manawatu Standard, Volume LIII, Issue 251, 20 September 1933, Page 8

TRADE IMPROVEMENT

am MASTERS’ OBSERVATIONS. THE RECOVERY OF BRITAIN. Per Press Association. WELLINGTON, Sept. 19. “Judged from the decrease in the unemployment figures, the increase in investments for the development of manufacturing, the budgetary position, the decreased importation of manufactured goods and increased importation of raw material, it is apparent that a measure of prosperity lias returned to Britain,” stated the Minister for Industries and Commerce, Hon. It. Masters to-day. “Perhaps no better indication as to the revival that has taken place could be secured than from the reduction of- unemployment registrations during the months from February to June inclusive, the total registrations having been reduced by 464,987 while in June of this year there were 144,500 fewer unemployed than in the month of May. The improvement covers a wide area of industries, including iron and steel manufacture, engineering, ship* building and repairing, textile industries, metal goods manufacture, building, and the motor trade.

“The employment figures are particularly encouraging, and the improvement extends to almost every trade. In comparison with this, the rest of the world is suffering from a growth of figures in unemployment. “With regard to the export trade of the four great commercial nations of the world, one can make a very significant comparison. The percentage values of decline in exports during the first four months of the year, compared with last year, showed the United States as having dropped by 27 per cent., Germany 25 per cent., France 14 per cent., while Britain’s decrease is 7 per cent. The statistical figures indicate that the recovery is widespread, the improvement having taken place m 90 per cent, of the industrial groups. The motor market had been steadily improving for some time a.nd remains brisk, sales during the present year showing a considerable improvement on those of the previous year. Substantial increases are taking place in the export business, not only within the Empire, but also with foreign coun“lt is interesting to note that as a result of the Ottawa agreement, Canada alone has increased her purchase of cars by 109 per cent. The ten horse power car has been in most popular demand and seems to be asserting itself as the family car. Motor factories which usually slow down at this time of the year are finding the pressure sufficient to continue manufacturing.

RETAIL BUSINESS. “The returning confidence lia.s reflected itself in the retail business also, and people are loosening the purse strings, as reported by the largest retail businesses. Messrs Gamages, Ltd., said: ‘Last year’s sale was good, but this was better. More money was spent in all departments.’ Messrs Harrods said: ‘The mail department increased by 10 per cent, and our ordinary sales showed a considerable increase, the most significant being a. great improvement in heavy goods, like furniture, carpets, ironmongery, linen and blankets, etc.’ Messrs Selfridges report that they have served many more customers than last year. “The building trade was particularly active in and around London during the time we were there, and although I did not have the opportunity of seeing the activities in the smaller cities and towns, .1 am given to understand that wliat applied in London applied in a similar degree in the smaller centres. “The return of confidence of the investing public, is really remarkable, as no less than £40,000,000 was invested in new companies during the first six months of this year, while the figures for 1931 were £27,729,000 and for 1932 £34,057,000. The stock markets were buoyant, industrial and commodity shares being in special demand.

“Those who are naturally cautious in expressing their views about drawing optimistic deductions, are agreed that there is good reason for coming to tne conclusion that trade generally is in for better times. Three of the largest savings bank institutions, viz., saving certificates, post office savings hanks and the trustee savings banks, which really are the banks of the working people of Great Britain, showed that the personal savings had increased by £26,000,000 during the first six months of the present year, the post office accounting for about 50 per cent, of the total. PRIMARY PRODUCE PRICES. “My opinion is that this undoubted revival in trade and confidence ill the future has in a very large measure been responsible for lifting the depressed values of our primary products from the prices which were ruling in the earlier part of the year to those of to-day. I feel that 1 cannot do butter in summing up the position than repeat the words of Mr Neville Chamberlain when speaking in the House of Commons recently: ‘We are more than holding our own. 1 think we have at least begun to sec- signs which show unmistakably that the improvement is not a fleeting one. It has a solid foundation which may be expected to continue, and I believe that the result of our efforts is now beginning to show itself to advantage.’ ”