Primary Food Products Drive Increased Wholesaling
Primary Food Products Drive Increased Wholesale Activity
Seasonally adjusted sales increased 3.4 percent in the June 2004 quarter, compared with the March 2004 quarter, according to Statistics New Zealand. This follows increases of 1.9 percent and 3.5 percent in the March 2004 and December 2003 quarters, respectively.
Primary product food wholesaling, which includes fruit and vegetables, dairy produce and meat wholesaling, recorded the largest increase in seasonally adjusted sales in the June 2004 quarter, up $230 million. Metal and mineral wholesaling recorded the second largest increase, up $137 million. These increases were partly offset by a decrease in seasonally adjusted sales of farm, construction, professional and business equipment, down $72 million.
The sales trend in the wholesale industry rose 2.5 percent in the June 2004 quarter, compared with the previous quarter. This is the third consecutive quarter recording trend growth greater than 2 percent. Between the end of June 2003 and the end of June 2004, the level of wholesale stocks rose by $282 million, to $8,366 million. The largest contributor to this rise was motor vehicle wholesaling, up $111 million.