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December Quarter Wholesale Sales Unchanged

Wholesale Trade Survey: December 2001 quarter

Seasonally adjusted wholesale sales for the December 2001 quarter remained unchanged, compared with the September 2001 quarter, according to latest figures from Statistics New Zealand. This follows a decline in the September quarter after 11 consecutive quarters of growth.

A decline of 10.9 percent for the petroleum and petroleum products storetype made the largest negative contribution to the overall sales result. This large decrease can be partially explained by the drop in crude oil prices over the same period.

The decline in the petroleum and petroleum products storetype was partially offset by growth in the machinery and equipment storetype, up 3.4 percent and the primary product food storetype (mainly comprising dairy products), up 2.2 percent over the same period. An increase in sales of farm and construction machinery and professional equipment wholesaling are the main contributors to the increase in sales for the machinery and equipment storetype.

Seasonally adjusted stock values rose by 5.5 percent in the December 2001 quarter, compared with the previous quarter. The largest contribution came from primary products food stocks, which increased by 32.4 percent. The petroleum and petroleum products storetype recorded the largest decline in the value of stocks held, down 24.5 percent.

Brian Pink Government Statistician END

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