Sharechat Logo

NZ wholesale trade up 2.1% in first quarter

Tuesday 6th June 2017

Text too small?

New Zealand wholesale trade advanced in the first quarter of 2017, with gains in basic materials such as agricultural products, petrol and timber.

Seasonally adjusted sales gained 2.1 percent in the three months ended March 31, from a 1.1 percent gain in the fourth quarter of 2016, Statistics New Zealand figures show.

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, five of six wholesale industries recorded gains, while one industry – machinery and equipment – recorded no change. Basic materials gained 3.7 percent, motor vehicles rose 3.8 percent, and other goods, which includes textiles, pharmaceuticals and furniture, rose 2.3 percent.

Actual wholesale trade sales of $23.4 billion in the March quarter were up 5.3 percent from the same period in 2016. The total value of wholesale stocks held at March 31 was $10.9 billion, up 2.2 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 edge lower; power companies under pressure
NZ dollar rises as bets on another OCR cut fade
Broad-based manufacturing pick-up offers silver lining
Global economic outlook not as dark as in August: RBNZ
NZ dollar slips on slew of weak global data, lack of US-China progress
MARKET CLOSE: NZ shares recover as investors re-think RBNZ review
NZ dollar falls on weak Aussie jobs numbers, poor China data
Govt media plan won't weaken commercial players - TVNZ
Goodman trust's 1H net profit quadruples on unrealised property gains
Regional house price inflation accelerates in October

IRG See IRG research reports