NEW YEAR TRADE HAS BEGUN WELL

Manawatu Times, Volume LIV, Issue 6844, 25 February 1929, Page 7

NEW YEAR TRADE HAS BEGUN WELL

JANUARY RECORD. TEXTILE TRADES SHOW WEAK SPOT. United Press Association—By Eleetril Telegraph—Copyright. Received Sunday, 7 p.m. LONDON, Feb. 23. Tho Economist’s monthly trade report strikes a note of subdued optimism. To judge from current statistics and reports tho Now Year has opened well. The overseas trade return is good. Machinery exports, in particular, have achieved since the war a January record. There has been a distinct improvement in the production of steel and some increase of activity in the iron trade. The engineering outlook is more promising and shipbuilding has maintained its now vitality. Finally, the coal trade has been helpea in part by the winter weather and is at least able to report comparative activity.” "The weak spot is the textile trades. Bradford reports a renewed fall in raw wool prices, restricting production and wlxilo conditions cannot be said to be of the best in tho industry,, ait the same time, they canno-t be said to bo wholly unsatisfactory. The demand for piece goods has been restricted by tho Bombay riots, the Chinese New Year holidays and the decision of the spinners of Egyptian cotton to introduce short time bears an ominous appearance.

“The general situation seems to be that as in previous years, a spell of comparatively good trade is being exexpcrienced, which should last till April. Moreover, the current quarter in some respects is proving a more active period than the first quarter of last year."