Total wholesale trade sales, after adjusting for seasonal effects, rose 2.3 percent or $472 million in the March quarter, Statistics New Zealand (SNZ) says.The increase was the second quarterly rise following a period of decline that began in mid-2008.The
Total wholesale trade sales, after adjusting for seasonal effects, rose 2.3 percent or $472 million in the March quarter, Statistics New Zealand (SNZ) says.
The increase was the second quarterly rise following a period of decline that began in mid-2008.
The rise in sales was widespread with 13 of the 16 industries covered recording higher sales.
For the second consecutive quarter vehicle wholesaling recorded the largest individual increase, lifting 6 percent or $86m in the three months to March.
Food and grocery products -- the largest single industry accounting for about a fifth of all wholesale trade sales -- gained 1.7 percent or $73m, while a category that includes wholesaling of some machinery and equipment was up 9.2 percent or $69m, largely reversing a 9.3 percent fall in the December quarter.
Building supplies wholesaling gained 3.3 percent or $57m following a rise of 6.6 percent in the December quarter, SNZ said today.
Among the three industries with lower sales in the March quarter, the largest fall was in household good wholesaling, which fell 6.8 percent or $45m.
The value of total wholesale trade stocks rose 1.9 percent or $191m, following a 0.5 percent lift in the December quarter.
The largest stock build was in the category including some machinery and equipment wholesaling, which lifted 14.4 percent or $97m, the first stock rise since the September 2008 quarter.
The second biggest stock increase was recorded in unprocessed primary products wholesaling, up 10.8 percent or $79m.
Vehicle wholesaling had its first rise in stocks since September 2008, recording an increase of 5.6 percent or $62m. The level of stocks peaked in September 2008 at $1.7 billion, while the level of $1.2b in the March quarter was similar to that of 2002.
