COMMERCIAL

Hokitika Guardian, 8 November 1932, Page 2

COMMERCIAL

DOMINION TRADE

SEPTEMBER FIGURES. The Abstract of Statistics, in a review of trading conditions in September says: Current business statistics, with few exceptions, do riot as yet reflect any marked improvement., As far as internal trade is concerned, the index afforded by the volume of bank debits' placed to customers’ accounts suggests a very low ijevel of business transacted 1 during the month under review; even, below the exceptionally quiet preceding month. ‘The steadily mounting aggre-' gate deposits as against the depletion of funds at call also reflects .a- persistent lack of confidence in the investment market.

External trade conditions also suggest a quieter month than has been experienced of date, although this is not unusual for September. Exports were comparatively small in total value, as also were imports, although the latter record a slight rise over the previous month. The visible balance of trade as a result is against the Dominion to the extent of £BOO,OOO for the month. However, the high level of exports during preceding months together with , the minimum of imports has produced a favourable balance of £10,000,000 for the first nine months of the year (expressed in terms of Niew Zealand currency).

A feature of the London markets reports for the Dominion’s produce has been the favourable trend in the wool situation. The September-Qctober wool sales opened briskly, and a firm tong, was soon evidenced and was maintained to the close, all classes of wool realising an advance over the July sales. Unfortunately the same cannot be said for the other principal primary products in which New Zealand is interested. The market has been heavily overloaded with supplies of frozen meat from all sources, and the number of carcasses afloat lias constituted a record in some instances fof this time •of the year. Consequently it has been impossible to maintain prices at. a satisfactory level, and the meat market—especially lamb—has been particularly depressed. Dairy produce hes fared little better. ,At the. beginning of the month the outlook was hopeful, both butter and cheese displaying an advanced tendency. This improvement, however, was short-lived,. and latest cable advices suggest a downward tendency, with the butter market dull and cheese quiet. OVERSEAS TRADE. The export trade, reached its lowest ebb for. the year during the month under review, the total value sinking to the level of £1,600,000, a figure 41.8 per cent, lees than that for August, and 7.4 per cent, below that recorded for September, 1931. For the nine months of the year, now past, however, exports have bpen considerably heavier than in the corresponding period of the previous year, arid' the total represents an Increase of 5.2 per cent, over the 1031 figure. ;. Imports, on the other hand, display an upward trend in total value for the month, having increased by 12.7 per cent, over August, and by 1 per cent, over September, 1931. For the cumulateive period of nine months the total is, however, 10.6 per cent, below that for the corresponding portion of i93i. ' ,