Exports drop, local sales up

Canterbury manufacturers have seen total sales in April rise by 6 per cent even though export sales dropped.

The latest Canterbury Manufacturers' Association survey reported $308 million in annualised sales with 35 per cent in exports. During the month, export sales decreased 16.5 per cent compared with the same month last year, but domestic sales rose 24 per cent.

Net confidence was recorded at 25, an increase from the March result, which was minus 8.

Association chief executive John Walley said the sharp fall in exports reflected the high New Zealand dollar. The survey was done during Budget week.

- NZPA