Wholesale trade sales continue up

Total wholesale trade sales rose a seasonally adjusted 2.2 percent or $472 million in the June quarter, Statistics New Zealand says.

The increase was the third consecutive rise in sales, following a period of decline that began in mid-2008.

Though nine of the 16 wholesale industries saw sales rise, the total trade sales increase was mainly driven by three industries.

Primary product food was up 8.4 percent or $149 million, machinery and equipment was up 14.8 percent or $122m, and unprocessed primary products was up 6.7 percent or $107 million.

Food and grocery products had the largest fall in the June quarter, down 2.2 percent or $95 million - the first decrease since September 2008, when sales fell 1.8 percent or $73 million.

The trend in wholesale trade sales in June 2010 was 6.5 percent higher than in June 2009, but still 4.3 percent below its peak in June 2008.

The value of total wholesale trade stocks fell 1.8 percent to $10.1 billion, reversing a 1.6 percent or $166 million rise in the previous quarter.

In actual dollars, not seasonally adjusted, the stock value was $10.5 billion at the end of July 2010, 4.2 percent lower than at the end of June 2009.

The biggest contributors to the fall were petroleum product down 17.5 percent or $276 million, and unprocessed primary products down 13.8 percent or $118 million.

- NZPA