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Trade sales up for seventh quarter in a row

Trade sales up for seventh quarter in a row
Wholesale trade sales were up again in the June quarter for the seventh consecutive time, Statistics New Zealand said today.

Wholesale tradeWholesale trade sales were up again in the June quarter for the seventh consecutive time, Statistics New Zealand said today.

After adjusting for seasonal effects, total sales rose 2.2 percent to $20.7 billion.

The bulk of the increase came from the 'other goods wholesaling' industry, which rose 9.8 percent or $316 million.

“Other goods wholesaling is a bit of a mixed bag," said industry and labour statistics acting manager Tehseen Islam.

"It includes things like textiles, footwear, pharmaceuticals, and furniture, but no single one of these subgroups drove the overall increase."

Motor vehicle and parts had the second-biggest increase, up 4.5 percent. Basic materials wholesaling had the only sales fall, down 0.7 percent.

The trend in wholesale trade sales has been rising steadily since the September 2009 quarter, and is up 16.8 percent since then.

The value of wholesale trade stocks was $8.8 billion at June 30, compared with $8.5 billion at the same time last year. Four of the six wholesale industries had higher stock holdings than in June 2010: basic material wholesaling, other goods, grocery, liquor and tobacco, and motor vehicle and parts.

Quarterly wholesale trade statistics are not produced at regional levels.  In Canterbury, 93 percent of surveyed respondents provided information, compared with a 92 percent response from the rest of New Zealand. While a small number of surveyed businesses have been adversely affected by the ongoing earthquakes, Statistics New Zealand said it was unable to estimate the overall effect on Canterbury or Christchurch.