Wholesale trade sales jump in June quarter

TOM PULLAR-STRECKER
Last updated 11:53 05/09/2014

Relevant offers

Industries

Dancing Sands toasts success from Kiwi products Top of the south working group advocates seek focus in fishery preservation 1MBD scandal: Judge allows Malaysian businessman tussling for $370m in seized assets to take control of NZ trusts Z Energy to help get curious drivers behind the wheel of an EV BNZ internet banking outage: Customers unable to bank online Quirky QT hotel brand coming to Queenstown More than 500 job losses as more Pumpkin Patch stores to close Rolls-Royce emerges tarnished, but lucky despite NZ$1.15b fine Donald Trump's appointment of Xero's Chris Liddell: Does NZ not care about the values of its business leaders? Investigations but no progress on Christchurch-Dunedin passenger train, KiwiRail says

The latest economic indicator released by Statistics New Zealand is further evidence the economy achieved "moderate growth" in the three months to June, ASB chief economist Nick Tuffley says.

Statistics New Zealand said wholesale trade sales rose a seasonally adjusted 1.8 per cent during the quarter, following a 0.2 per cent decline in the economic indicator in the March quarter.

The trend for wholesale trade sales had generally been rising since the September 2009 quarter, Statistics NZ said.

Tuffley said the indicator tended to be a bit volatile but the latest figure was consistent with the bank's forecast that the economy grew by 0.6 per cent in the June quarter.

"At face value, the wholesale sector should be contributing positively to that second-quarter [GDP] figure," Tuffley said.

Statistics NZ business indications manager Neil Kelly said all six wholesale industries the department tracked showed an increase in trading volumes in the June quarter.

The grocery, liquor and tobacco sector and the machinery and equipment sector were the standouts, showing seasonally adjusted increases of 2.6 per cent and 3.2 per cent respectively.

In unadjusted terms, the value of total wholesale trade sales was $21.9 billion, up 5.9 per cent on the same quarter in 2013.

>Share this story on Facebook

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content