5 Jun 2010

Wholesale sales rise for 2nd consecutive quarter

10:26 am on 5 June 2010

Sales of motor vehicles and building supplies helped to boost wholesale trade figures for the second consecutive quarter.

The figures monitor the level of activity in the wholesale trade sector, which supplies retailers.

Statistics New Zealand says seasonally-adjusted wholesale trade sales rose 2.3% in the three months to March - to $21.1 billion.

It's the second quarterly rise following a period of decline that began in mid-2008.

BNZ markets economist Doug Steel says it is a broad-based improvement, with most store types recording improved sales.

Three of the 16 wholesale industries monitored recorded a drop in sales during the quarter.

Household goods fell almost 7%, electrical and electronic equipment were down almost 3% and pharmaceutical and toiletry wholesaling slipped slightly.