Petroleum, coal boost NZ sales
Sales of petroleum and coal products rebounded in the quarter ending September to drive up New Zealand’s total manufacturing sales, the government statistics agency said on Tuesday. The volume of total manufacturing sales rose 2.1 percent in the September quarter, following a similar rise in the June 2016 quarter, according to Statistics New Zealand. “This quarter’s rise in petroleum and coal manufacturing sales followed a sizable fall in the June 2016 quarter,” Business Indicators Manager Neil Kelly said in a statement. of the pound’s decline since Britain voted on June 23 to leave the European Union and rising oil costs. UK import prices surged almost 15 percent in November, the biggest annual increase in five years, and upward pressure from energy may intensify after this month’s output cut move by OPEC.