GOOD-BYE TO SLUMP

Waikato Times, Volume 108, Issue 18167, 4 November 1930, Page 3

GOOD-BYE TO SLUMP

STAGE SET FOR REVIVAL RISING EXPORTS. British industry has now begun to turn the corner after the great ten years’ slump, says the Sunday Chronicle trade correspondent. In many industries the stage is set for an early boom. In others there are signs that the silver lining of the dark cloud is at last coming into view. Inquiries I have made during the last few days show that the coal output has begun to increase. Wholesale prices are “bouncing on the bottom” after the long series of falls, and 'in many commodities an early rise is expected. Buying of raw materials is being begun by British manufacturers, who are anticipating a revival of. activity in their industries. Exports of British goods during the past month have jumped rapidly upwards. I How Exports are Rising. British ■ exports in July showed an increase over June of £7,901,171. Coal exports were over 500,000 tons higher. Coal bunkers shipped were 137,000 tons more. Iron and steel exports were 50,000 tons more, and higher than the year’s monthly averages so far. Motor-car exports were half as high again as those of June. Cotton piece goods exports increased 40,000,000 square yards. Woollen and worsted exports increased by 1,000,0001 b. Artificial silk exports were nearly double, the increase amounting to over 000,0001 b. A Significant Sign, No less significant than the increase in exports is the increased buying of raw materials. At this time of the year ther quantity of raw materials imported usually shows a decrease. This year it has shown an increase. This fact is a clear sign that manufacturers expect an improved demand for goods very shortly. ' A progressive weekly decrease in the number-of miners unemployed is anticipated in Government circles, and a good deal of the shipping which has been standing'idle for months is now being chartered. On every side there* are signs that British industry has reached the end of the long lane of depression, and is now turning round the corner'to the broad highway of prosperity.