GST Sales Increase in June Quarter
Business Activity (GST) Indicator: June 2000 quarter
Seasonally adjusted sales for the June 2000 quarter increased by 1.9 per cent compared with the March 2000 quarter according to Statistics New Zealand. This includes all sales by GST registered businesses and is a broad-based indicator of economic activity.
The main contributions to the increase came from wholesale trade, and property and business services. Wholesale trade was influenced by a continued rise in primary product food sales. Inflationary pressures on businesses, as reported in recent Producers Price Index (PPI) releases, appear to have impacted on sales values this quarter. Higher prices were due to rising input costs, coupled with the low exchange rate and higher commodity prices.
Ian Ewing Deputy Government Statistician