Wholesale trade sales up in June quarter

Seasonally adjusted total wholesale trade sales increased 3.1 percent, or $686 million, for the June quarter, led by fuel.

Publishing the data today, Statistics New Zealand (SNZ) said the rise in the latest quarter followed a flat result in the three months to March when sales were down 0.1 percent, or $11m.

Petroleum product wholesaling rose 15.9 percent ($317m) in the June quarter, probably because of higher global oil and fuel prices, SNZ said.

Other industries to record large increases were food and grocery product wholesaling, up 7.1 percent ($276 m), and metal and mineral wholesaling, up 29.5 percent ($236m).

The largest decrease was in builders' supplies wholesaling, down 3.7 percent ($68m).

Seasonally adjusted wholesale stocks for the June quarter increased 6.2 percent ($676m).

That was the largest stock value increase since the series began in 1995, and was largely influenced by higher petroleum product stocks, which contributed over three-quarters of the total stock increase.

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