BUSINESS STATISTICS

Hokitika Guardian, 16 July 1929, Page 8

BUSINESS STATISTICS

MONTHLY REVIEW. The Abstract of Statistics for June, ip its monthly review of business statistics, states: — The national volume of business in May, as indicated by the debits to individual accounts in the banks of issue, showed a recession from April, but a substantially higher level than that recorded for May of last year. The movement of goods in primary channels, as reflected in the combined figures for the railways and coastal shipping continues above 1928. Dairy production continues on a favourable scale, with the outputs of butter and cheese now well above the record figures for the whole of last season with two months to go. The slackening-ofT in the mutton export trade has been continued on a level above 1928; exports of wool for 1929 show increases in quantity but decreases in value.

Imports show a recession as compared with April, but the revelant statistics show a definite upward trend over 1928. High deposit figures still characterise the banking situation, and marked activity continues in both branches of the mortgage business particularly in the liquidation of indebtedness. Prices show a . slight ,upward movement since April.

DAIRY PRODUCTION. Rutter and cheese grading figures for May indicate that the high level inf production has been maintained and ithat the seasonal decline has not been so marked as in previous years. For I the month, butter showed an advance iof 0.8 per cent, and cheese 8.8 per cent over Mav, 1928. The cumulative • totals ifor the ten months of the dairying season show higher levels for both (commodities, butter i being up by 9.9 tier cent, and choose by 14.4 per cent. • Attention was directed last month to ithe increases of the cumulative figures ■for the nine months of this year over ’those. for the 1927-28 year ; May has ■witnessed the ten months’, production •being carried to points 6.5 per cent, iand 10.9 per cent, respectively for butter and cheese, above these year! yfigures. MEAT'AND WOOL. The. exports of frozen lamb in May receded by ;Q.6. per .cent., in quantity, .but gained by 3.0 per cent, in value ll’his; brings the cumulative figures for tiie seven months 1.7 per cent in quantity and 4.0 per cent, in value above the figures for the corresponding periiod of last season.

Hie slackening-off in the mutton export trade this season was continued in May,: when, decreasese of ,13.8 per cent, and 7.4 per , cent, were recorded for the quantity and value respectively as compared with May 1928. Recessions were also recorded for the seven monthly cumulative, figures,. but, as in the case of lamb, the decrease was .more marked in quantities than in values the former showing a decrease ■of 7.0. per cent, against 1,3 per cent, for the latter. Marked activity was recorded for the beef trade, ,in May, but the level for. the season is well below that, for last season.’

Wool exports in May showed gains iif 30.6 per cent, and 0.9 per cent, in quantity and value respectively as com pared with May ,1928, while for the five months a gain of 3.5 per cent in quantity was accompanied by a recession of 6.9 per cent, in value. The argregate values of the wool exported during the five months off 1929 were just under £950,000 below the figure for the corresponding period last year.

OVERSEAS TRADE. In contrast with this slackening-off in the exports, the recorded values of imports show an upward trend. Notwithstanding a recession of 5.4 ( per cent., in May,the cumulative five-mon-thly figures show a gain of 7.6 per cent while moving figures for twelve month reflect an increase of 5.2 per cent. Both these movements are reflected in the visible balance of trade, which was approximately £9,000,000 in our favour for the twelve months ended Mav last, against, approximately £12,000, 000 for the year ending in the same month of 1928. There is evidence that this balance >f trade, which has been abnormally in favour cJf'the Dominion is being adjusted by thq customary eco niimic forces—viz., a rising tendency in the prices for imported goods and increased activity in the import trade. During the twelve months ended May, 1928 £2,001,079 represented the value of motor-vehicles imported. Within the relatively short space of twelve months this figure increased to £3,651,3341, or by over £1,600,000. The quantity of motor spirits increased by approximately 1,000.000 gallons during the same period, but owing to greater importations in bulk the recorded value decreased from £1,764,853 to £1,755;474.

BANKING. The aggregate debits to individual accounts in the bank olf issue for tin l four weeks ended May 27th showed a recession of 3.56 per cent, from the figures for April and again of 1.54 per cent, over that for May last year. Deposits reflect the favourable balance of trade of recent months, and are running on a level approximately £4,000,000 above that for the corresponding period last year. The latest figures show that the seasonal contraction in I the winter months has commenced. | Nfen-interest-bearing deposits are ap-

proximately £1.000,000 below what they were at the end of April, while those bearing interest have increased by approximately £300,000. Compared with figures at the end of Mny, 1928, non-interest-bearing deposits show an increase of approximately £700,000 against an advance of £2,300,000 in those bearing interest. In common with the debits, the aggregate debts due to tbe banks reflect an improvement in the volume of. business; the figure at the end of May shows an increase of just over £2,000,000, or 1.76 per cent, over that at the end of May, 1928, as compared with an increase of 5.63 per cent, in the deposits, exclusive of Government business. This relative lag in the advances is reflected in the ratio of advances to deposits, which stood at 82.73 per cent at the end of May, 1928, but now stands at 80.68 per cent. FINANCE. Seasonal activity was recorded for real estate transactions in May. Judging by the registered values of land transfers, the volume of business showed a gain of 36.6 per cent, over April, and a drop of 3.4 per cent below May, 1928. Cumulative five-monthly totals reveal a level of business for the current year 7.8 per cent, above that for 1928, while twelvb-nuihthly moving totals show a gain this year of 3.2 per cent. The’ registered mortgage business, which largely represents part of tlie purchase consideration of property sales’, showed gains in May of 27.6 per cent and 16.6 per cent, over April, 1929, and May. 1928, respectively. The volume of business for the five shows an advance' of 19.0 per cent., while moving twelve-monthly totals show a gam of- 6.3 per cent. Mortgages discharged are''generally regarded as fairly good indicators of the spending-power available. The figures for May reflect marked activity in this branch of business, showing increases of 9 3.2 per cent, and 25.5 per cent, over May, 1928, and April, 1929. respectively. Increases of 15.1 per cent and 9.7 per cent, are disclosed by cumulative five-monthly figures and moving twelve-monthly totals respectively.