TRADE RETURNS.

Star (Christchurch), Volume LXVI, Issue 20484, 10 December 1934, Page 9

TRADE RETURNS.

Dominion Figures for October. IMPORTS INCREASE, Since the seasonal upward swing in business activity does not commence to gather momentum before the end of October, statistical series illustrating the trend of business in that month do not reflect to any appreciable extent the change from the slack season, states the Abstract of Statistics. Statistics of unemployment, however, show an improvement in October of this yeai as compared with the preceding month, the number of men who are a charge on the Unemployment Fund falling from 61,489 on September 29 to 59.327 on October 27. This figure represents a decrease of 21.2 per cent from the total recorded a year ago (75,216). The seasonal decline in business activity normal in the winter and early spring months was apparently counteracted to a considerable extend during the current year by an improvement in general economic conditions Unemployment did not increase to the usual marked extent in the winter months, as is indicated by the following statistics showing the number of men a charge on the Unemployment Fund at intervals throughout the year: January 20, 64,856 (the maximum so far recorded this yeari; June 9, 59,230; September 29, 61,489. The corresponding figures for last year were: January 21, 61,593; June 10, 67,116; September 30, 75,134 (maximum for year). Statistics of external trade for October indicate an exceptionally heavy volume of imports, the value of imports for the month being as much as 51 per cent above the total for October of last year. Sales-tax receipts for October totalled £194,397, easily a record amount in any single month since this tax came into operation. The increase in the value of imports, which has been so noticeable a feature of the trade statistics in recent months, and the buoyancy of returns from the sales tax indicate a considerably increased volume of wholesale and retail ti ansactions. A noteworthy feature of the official price index number series for the month of October is the fact that the share prices index number for October is 1006 (on the base: average share prices during the year 1926 equal 1000). All of the other main series of price index numbers—retail, wholesale and export—show index numbers still considerably below the 1926 figures. External Trade. For the fourth month in succession an excess of imports has resulted from external trading, the excess in the value of imports in October amounting to £1,340.000 in New Zealand currency or £1,070,000 in sterling. Imports of motor vehicles, motor spirit and building materials have increased considerably in recent months, a particularly heavy import of motor spirit (7,944,256 gallons) being recorded in October. The value of exports was £2,057.058, a decrease of £321.797 or 13.4 per cent below the total of October last year, while the recorded vaiue of imports was £2,805,865, an increase of 51.3 per cent on the corresponding total for October last year. The value of imports in October is the highest monthly total since January, 1931. Banking.

The average weekly value of bankdebits to individual customers’ accounts was £12,165,620 in October, an increase of £1,540,656, or 14.5 per cent over the September figure. An increase in the value of debits is normal in October, for August and September are usually the slackest months in the year in this respect.

The average amount on deposit with the trading banks during October was £62,649,984, a fall of £2,094.771 as compared with the average for September, and of £3,367,857 since August, when the record monthly average of £66,017,841 was recorded. All classes of deposits—Government, free, and fixed—show decreases as compared with September; and since demand deposits fell relatively more than time deposits, the ratio of free to fixed deposits fell from 54.37 per cent in September to 53.40 per cent in October. It should be noted, however, that the total value of free deposits is at present relatively high, the low ratio of free to fixed deposits being caused bv the fact that fixed deposits are still except-'onally high—despite a falling tendency during the last three months. The ratio of advances to deposits was 66.61 per cent in October—still an abnormally low figure, though an improvement on the position during the immediately preceding months Advances rose by £1.483,830 to £41.734,153, still a vqry low figure, but 5.4 per cent higher than that for August—the lowest month on record since these statistics first became available (in 1928). Prices. The general index number of export prices for October is 1042 (on the base: average export prices ruling during 1909-13 equals 1000,, the decrease of 41 points being mainly dtte to the lower prices for dairy produce and more especially for butter. A slight increase (1 point) is shown in the general index number nf wholesale prices for October (1338). The 6-point increase in the index number of imported items has more than counterbalanced the decrease in prices recorded for local 1 v-produced goods included in the index. Retail prices have remained almost stationary since September, the index numbers for both food and all groups b .‘ng unaltered (i.e., 771 and BQ6)—on tho base: average prices ruling during 1926-30 equals 1000). Some variation took p'aoe within the food groups; a decided fall of 25 points in the dairv produce index number being almost counterbalanced by a further increase of 1.8 points in the index number for the meat group. POULTRY AND EGGS. The Canterbury Co-op. Poultry Producers. Ltd. report excellent penr.ings at both Wednesday's and Friday’s auction sales. Good quality entries, combined with the iarpe attendance of buyers resulted in brisk competition. For a fine line of well conditioned cross-bred millets, pleasing: figures were obtained. There was a predominande of light chicken at the Fridav'g market, resulting in a slight dron in prices. Turkeys, ducklings and goslings were eagerly sought after. The following prices were real used per pair: chicken, he.avv. to 10s: medium, to R«: light, to ss. Boilers— Heavy, to 7s: medium to light, to 4s fid. ducks, to fi«: well finished ducklings, to 9s fid: goslings to i 0 «; turkeys lOd to Is nor lb. Pullets to 9s fid. Fgg market—Eggs, machine graded, ! tested and guaranteed. First grade, ltd; j second grade, lOd. 6