Wholesale Activity Declines in June 2003 Quarter

Wholesale Activity Declines in June 2003 Quarter

Seasonally adjusted wholesale sales decreased 2.2 percent in the June 2003 quarter compared with the March 2003 quarter, according to Statistics New Zealand. This follows an increase of 1.4 percent in the March 2003 quarter and an increase of 1.2 percent in the December 2002 quarter.

Primary product food (down $213 million), petroleum product (down $137 million) and farm and construction machinery, professional and business equipment (down $68 million) recorded the largest decreases in seasonally adjusted sales in the June 2003 quarter, compared with the March 2003 quarter. These decreases were partly offset by the increase in seasonally adjusted sales in food and grocery products (up $150 million).

The trend in sales decreased 0.6 percent in the June 2003 quarter, compared with the March 2003 quarter. This follows increases of 0.4 percent in the March 2003 quarter and 0.9 percent in the December 2002 quarter.

Seasonally adjusted total stocks decreased 2.6 percent to $7,817 million as at 30 June 2003. This follows an increase of 1.7 percent as at 31 March 2003 and a decrease of 0.6 percent as at 31 December 2002.

Ian Ewing

Acting Government Statistician

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