KEY POINTS:
Household goods led a 1.7 per cent increase in March quarter seasonally adjusted total wholesale trade sales.
Household goods wholesaling, which contributed 35 per cent to the total increase, was up $123 million, or 18.6 per cent - the largest since the series started in March 1995, Statistics New Zealand said yesterday.
The total sales trend for household goods wholesaling rose 14.3 per cent during the past two quarters, after following a tiny fall in the September quarter.
The total wholesale trade sales trend increased 6.3 per cent between the December 2005 and March 2007 quarters, after a flat period at the end of 2005.
Of the 16 industry groups monitored, 11 showed seasonally adjusted rises and five fell during the March quarter, compared with the December 2006 quarter.
Following household goods up was motor vehicle wholesaling (up $108 million or 6.8 per cent), then farm and construction machinery, professional and business equipment wholesaling (up $93 million or 5.9 per cent).
Seasonally adjusted sales of machinery and equipment wholesaling were down $127 million or 12.6 per cent, and metal and mineral wholesaling fell $61 million or 7.5 per cent.
Seasonally adjusted wholesale trade stocks fell 1.9 per cent in the March quarter to reach $9.7 billion. The lower value was largely because of a fall in the petroleum product industry (down $318 million or 24.3 per cent).
ASB Bank said the rising trend in wholesaling, rundown in stocks and rise in seasonally adjusted sales were consistent with recent surveys which suggested spending momentum picked up in this year's first quarter.
- NZPA
