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Wholesale Trade Survey - June 1999 quarter

Wholesale Trade Survey - June 1999 quarter

Wholesale Activity Up

Wholesale activity in the June 1999 quarter increased 2.8 per cent from the previous quarter when seasonal factors were removed, according to Statistics New Zealand latest Wholesale Trade Survey.

The underlying trend in wholesale activity has now been growing steadily for a year. The major contributors to the increased activity in June were the machinery and equipment and the building materials, supplies and hardware sectors.

Wholesale sales for the machinery and equipment sector have been increasing for the past year. This continues the growth seen in the March quarter GDP results that recorded a second consecutive increase in business investment on fixed assets, driven by spending on plant, machinery and equipment. The increase recorded in the building materials, supplies and hardware sector reflects increases in both the construction industry and log and timber exports.

The primary product food sector recorded the only significant decline. The fall is due in part to low world commodity prices, declining livestock slaughter numbers and falling dairy exports.

Len Cook
30 August 1999

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