After two positive quarters, wholesale trade sales fell 1.4 per cent in the June quarter, Statistics New Zealand said today.
Sales fell by $294 million across the board, with the only increase coming from machinery and equipment sales, which rose 2.7 per cent or $111 million.
The biggest fall was in grocery, liquor, and tobacco wholesaling, where sales fell 1.6 per cent ($105 million).
Wholesale trade statistics measure goods sold to businesses or the government, as opposed to retail trade figures which show consumer purchases, and are seen as an indicator of economic strength.
Wholesale trade has been trending upwards since mid-2009 and in the last two quarters rose by almost $1 billion in sales. But the pace of the increase has slowed during the year.
The total value of wholesale stocks rose to $9 billion, up 3.8 per cent on a seasonally adjusted basis against the previous quarter.
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