NZ wholesale trade rises 0.7% in 4Q, led by fruit, vehicles

Tuesday 7th March 2017

New Zealand wholesale trade rose in the fourth quarter, led by strong fruit exports.

Seasonally adjusted sales gained 0.7 percent in the three months ended Dec. 31, 2016, from a 1 percent gain in the third quarter, Statistics New Zealand figures show. Actual wholesale stocks rose 1.6 percent from the fourth quarter of 2015.

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. Statistics NZ changed its methodology in collecting data for the September quarter to use more administrative data and reduce its reliance on surveys, while also ending its split of raw materials and finished goods in measuring total stocks. In the latest period, four of six wholesale industries recorded gains.

Grocery, liquor and tobacco products rose 2 percent, with fruit exports higher than usual for a December quarter, a period which is non-peak season for fruit exports. Sales of motor vehicles and parts rose 2.2 percent and machinery and equipment sales gained 1.7 percent.

Other goods wholesaling dropped 1.9 percent, while commission-based sales dropped 2.3 percent.

Actual wholesale trade sales of $25.9 billion in the December quarter were up 3.8 percent from the same period in 2015. The total value of wholesale stocks held at Dec. 31 was $11 billion, up 1.6 percent from a year earlier.

BusinessDesk.co.nz

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