Sharechat Logo

NZ wholesale trade up for 6th consecutive quarter, though vehicle sales dip

Thursday 7th December 2017

Text too small?

New Zealand wholesale trade continued to increase in the third quarter, its sixth consecutive quarterly rise, though gains in most industries were partly offset by vehicle sales dipping from recent highs.

Seasonally adjusted sales gained 1.1 percent in the three months ended Sept. 30 from a 1.7 percent rise in June, Stats NZ said. Wholesale trade covers intermediary transactions between manufacturers and consumers, which feeds into the national accounts and is used by economists to predict wider economic activity.

Four of the six wholesaling industries rose in the September quarter, with the largest increase from grocery, liquor, and tobacco wholesaling, which was up 2.8 percent from the June 2017 quarter, driven by fruit exports and grocery wholesaling. Basic materials, which spans agricultural, mineral, metal and chemical, and timber and hardware goods and products, saw the second-largest rise, up 3.4 percent.

Wholesale sales values for motor vehicles and parts, including cars and trucks, fell 3.6 percent. Sales values for this industry were at high levels in recent quarters, Stats NZ said. 

“Although the sales fell in motor vehicle and parts wholesaling, stocks continued to build up in the September quarter,” wholesale trade manager Sue Chapman said. 

Actual wholesale trade sales was $25.5 billion in the latest quarter, up 6.2 percent from the September 2016 quarter. The total value of wholesale stocks held at Sept. 30 was $11.4 billion, up 6.8 percent from a year earlier. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares at fresh high, Vector, A2 gain while Pushpay, Comvita drop
NZ dollar benefits from USD weakness after Trump complains about rate rises
Gold Report 21st August 2018
FlexiGroup's NZ cards business outpaces credit growth; bad debt ticks up
Tilt strategy still emerging - Mercury
Healthscope's NZ pathology shares efficiencies with DHBs, stalling earnings growth
Government to make new 'red zone' payment for uninsured homes
Port Taranaki lifts 2018 dividend on increased profit
NZ net migration continues slow in July as long-term visitors pack up and leave
Super Retail's annual earnings boosted by Macpac acquisition, online sales

IRG See IRG research reports