Wholesale prices up in third quarter

Seasonally adjusted wholesale sales increased 0.4 per cent during the third quarter, Statistics New Zealand said today.

That followed a revised 2.7 per cent rise in the second quarter and a 0.6 per cent rise in the first quarter, the government agency said.

The biggest increase in seasonally adjusted sales in the three months to September 30 was a $101 million rise in petroleum products wholesaling, up 7.4 per cent on the previous quarter, followed by a $46 million rise in unprocessed primary product wholesaling.

These were partly offset by a fall in textile, clothing and footwear wholesaling, which was down 10 per cent or $43 million.

The level of wholesale stocks rose 3.7 per cent to $9.41 billion in the quarter compared with the previous quarter, with the biggest increase in petroleum products.

On a trend basis, which removes seasonal and one-off factors, wholesale trade sales rose by 1.4 per cent, the ninth consecutive quarter of growth. This compares with a 1.6 per cent increase in the previous quarter and a 1.1 per cent rise in the March quarter.

The survey monitors the level of activity in the wholesale trade sector, which supplies retailers.

- REUTERS