8 Jun 2012

Wholesale trade sales up

11:43 am on 8 June 2012

Wholesale trade sales picked up in the first three months of the year - the second consecutive quarterly gain.

Statistics New Zealand figures show sales rose a seasonally-adjusted 2.4% in the March quarter, compared with a rise of 2.6% in the previous quarter.

The data measures activity in the wholesale trade sector, which supplies retailers.

Cars and car parts accounted for more than a third of the overall increase, coinciding with tighter emission standards for imported cars.

The seasonally-adjusted value of total wholesale trade stocks was $8.6 billion at the end of March, down 3.4% from the previous quarter.