DROP IN VALUE

Otago Daily Times, Issue 27038, 24 March 1949, Page 7

DROP IN VALUE

BRITISH TRADE FIGURES EXPORTS FOR FEBRUARY NZPA Special Correspondent Rec. 9.35 p.m. LONDON, Mar. 23. British trade figures for February show there was a drop in the value and volume of exports, which, at nearly £141,000,000, were about 12 per cent, lower than those for January. There are differing views about the significance of this decline. The Daily Telegraph says the figures offer indi“slight, but unmistakable, of coming danger points on our road to recovery.” It believes there is all too much reason to fear that the February returns are a first bulletin announcing a sickness of the sellers’ market. The Manchester Guardian, on the other hand, says the February figures need not be taken as a portent. It continues that in all the post-war years the export returns for January were abnormally high, presumably because shipments are delayed by the Christmas holidays and in February the level has been returning to a previous average each year. Two years ago the fall from January to February was about 17 per cent. Last year it was only 5 per cent., and this year it is nearly 12 per cent. There is not enough in it to suggest anything for the future.