Sharechat Logo

NZ wholesale trade up 2.5% in 11th straight quarterly rise

Friday 7th December 2018

Text too small?

New Zealand's wholesale trade rose for the 11th straight quarter with kiwifruit exports the standout performer. 

Seasonally adjusted sales increased 2.5 percent in the three months ended Sept. 30 after a 2.6 percent rise in the June quarter, Statistics New Zealand said.

Five of the six wholesaling industries were up in the September 2018 quarter. The largest industry increase was in grocery, liquor, and tobacco wholesaling, which was up 4.1 percent. 

“This industry’s increase was led by higher sales for kiwifruit exports,” wholesale trade manager Sue Chapman 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.

Sales of basic materials, which includes some agricultural products such as hides and stock feed, hardware goods, metals, minerals, petroleum, and timber wholesaling, rose 3.4 percent, while machinery and equipment gained 1.7 percent, other goods, such as clothing and footwear, pharmaceutical and toiletry goods, and paper products, increased 0.2 percent, and commission-based wholesale sales rose 6 percent. 

The only sub-group that fell was the motor vehicle and motor-vehicle parts industry, which dipped 0.2 percent after lifting 3.6 percent in June. “Toyota New Zealand changed their operating model in April. As a result, there’s some shift in activity and stocks from retail trade into the wholesale trade sector,” Chapman said.

Inventories lifted 2.8 percent on the quarter, with stocks of motor vehicles and parts up 1 percent, grocery, food and liquor product stocks up 2.3 percent, and machinery and equipment wholesale inventories increasing 4.6 percent. Stocks of basic materials rose 6.9 percent, while other goods stocks lifted 4.5 percent. 

Unadjusted wholesale trade sales climbed 8.6 percent to $27.7 billion in the September quarter from a year earlier, while inventories were 13 percent higher at $12.9 billion. 

(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 fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports