KEY POINTS:
Seasonally adjusted New Zealand total wholesale trade sales for the December 2006 quarter fell 0.5 per cent.
Figures released today by Statistics New Zealand (SNZ) show the industry group with the largest seasonally adjusted decrease during the period was petroleum product wholesaling, which was down $177 million, or 10 per cent.
The second largest decrease was in primary product food wholesaling, down $113 million, or 6.1 per cent.
Partly offsetting the falls were rises in seasonally adjusted sales of food and grocery product wholesaling, which was up $238m (6.9 per cent), and electrical and electronic equipment wholesaling, up $86m (10.5 per cent).
The fall in seasonally adjusted total wholesale trade sales was the first quarterly decrease since December 2005.
Between the December 2005 and December 2006 quarters the total sales trend had increased 5.2 per cent, following a flat period at the end of 2005, SNZ said.
SNZ said the fall in petroleum product wholesaling followed seasonally adjusted increased for the industry of 1.2 per cent and 9.3 per cent in the September and June quarters, respectively.
The sales trend for petroleum product wholesaling had decreased 6.3 per cent during the past two quarters, largely due to a fall in world prices for crude oil. That decrease followed a rise of 81 per cent between the September 2003 and June 2006 quarters, largely due to higher world prices for oil.
The fall in seasonally adjusted sales for the export-dominated primary product food wholesaling industry came as the sales trend for the group increased 11.5 per cent during the past three quarters, SNZ said.
With food and grocery products wholesaling, the sales trend had increased 5.8 per cent during the past two quarters.
- NZPA
