7 Sep 2010

Wholesale trade up in June

12:20 pm on 7 September 2010

Wholesale trade rose a seasonally-adjusted 2.2% in the three months to June, the third consecutive quarter of growth.

Statistics New Zealand says the total value of trades within the wholesale trade sector, which supplies retailers, rose to $21.6 billion, an increase of 6% compared with the same period a year ago.

The improvement has been mainly driven by increases in primary food groups, machinery and equipment, and unprocessed primary products like wool and grain.

Meanwhile, the value of seasonally-adjusted wholesale stocks fell 1.8% to just over $10 billion, reversing a similar rise in the previous quarter.