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(CEP News) - The volume of sales of manufactured goods in New Zealand fell sharply in the final quarter of 2008 but an increase in prices led to a nearly negligible decline in the value of sales, Statistics New Zealand reported.
The volume of sales fell 5.4% in the quarter than ended in December but an increase in prices led to decrease in sales value of less than 0.1%. "Although the volume of sales was down, increased prices for dairy products, fertilisers and chemicals, and transport equipment helped keep the overall sales value flat," Statistics New Zealand said in the report. In the third quarter of 2008, the value of sales increased 1.3%. The seasonally adjusted figures showed the bulk of the decrease in sales were from four industries: mean and diary products, petroleum and industrial chemicals, basic metals, and transport equipment. Statistics New Zealand said only three of 15 industries recorded increases "which were all minor." By Adam Button,
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