BUSINESS ACTIVITY.

Manawatu Standard, Volume LVIII, Issue 73, 23 February 1938, Page 5

BUSINESS ACTIVITY.

PAST YEAR'S RECORD. HIGHER PRODUCE VALUES. Statistical indicators of economic conditions during 1937 present a very favourable showing, the review of business conditions in tho current issue of the Abstract of Statistics states. Record levels were reached in tho 1936-37 production in respect of tho value of commodity production as a whole, factory production and employment in factories. The note circulation reached record levels during tho latter months of the year, while cargo tonnage handled and the transport of passengers and goods by rail reached exceptionally high levels. A substantial increase in road trafficis indicated by the setting of a new record in respect of motor vehicle licenses issued, while radio licenses are now also greater in number than ever before. Returns from the primary producing industries in the 1937-38 production season will be 6omewhat affected by the recession in wool values; but, on the other hand, very satisfactory prices are being realised for other classes of farm produce. The prospects in respect of the volume of farm production for the season were greatly improved by the December and January rains, which saved a situation which was becoming somewhat serious in several districts. Commenting upon the statistics for December as they afford an indication of Christmas shopping turnover and of tho holiday spending, the review states that in New Zealand, as elsewhere, the active note circulation in Christmas week is an index of particular significance. The net note circulation in that week broke all previous records, the average circulation during the week being £11,679,389, as compared with £10,443,224 in the same week of 1936 and £8.262.077 in the Christmas week of 1935. Bank debits (reflecting payments by cheques) were also running at a much higher level in December"than in that month for several years past. . Sales tax collections in December reached a record total—indicative of a particularlv busv Christmas shopping season—while totalisator investments also showed a marked increase over the December figures for recent previous years.