Price Rises Impact on Wholesale Trade Sales

Wholesale Trade Survey: September 2000 quarter

The seasonally adjusted value of wholesale trade sales increased by 1.9 per cent in the September 2000 quarter, latest figures from Statistics New Zealand show. The depreciation of the New Zealand dollar and higher commodity prices have increased the value of wholesale sales this quarter. The Producers Price Index (PPI) wholesale trade outputs sub-index increased by 3.5 per cent in the September 2000 quarter.

Six consecutive quarters of growth have resulted in an 18.5 per cent increase in sales since the March 1999 quarter.

An increase of $105 million in sales of machinery and equipment provided the largest quarterly rise in sales. Overseas trade statistics report an increase in exports of machinery and equipment of $62 million over the same period. Building materials and supplies also recorded a significant increase in sales this quarter. The rise in crude oil prices has driven a further rise in the value of petroleum sales. Food and grocery sales also increased this quarter, with the import value of food and beverages increasing over the same period. The food group component of the Consumers Price Index (CPI) rose by 1.2 per cent in the September 2000 quarter.

Stock values rose by $230 million this quarter. The largest movement came from miscellaneous (wholesaling nec) and petroleum products stocks. The largest offsetting movement to stock values came from machinery and equipment stocks.

Brian Pink GOVERNMENT STATISTICIAN

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