Wholesale trade sales gain for fifth consecutive quarter

Wholesale trade sales rose a seasonally adjusted 2% in the December quarter from the previous three months, the fifth consecutive quarterly gain, Statistics New Zealand says.

Basic materials wholesaling gained 6.9%, the largest sales value rise since the series started in 1995, while motor vehicle and vehicle parts was up 9.9%, the fourth-largest value rise since 1995.

Grocery, liquor and tobacco products wholesaling values were down 0.5%, following four consecutive quarterly rises.

Wholesale trade stocks rose a seasonally adjusted 2.5% in the December quarter.

The value of stocks, which was not seasonally adjusted, rose to $8.7 billion at December 31 from $8.1 billion a year earlier.

Motor vehicle and vehicle parts wholesaling stocks lifted 21.4% from December 2009, machinery and equipment gained 5.4%, and the grocery, liquor and tobacco product category lifted 5.7%.

NZPA

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