New Zealand wholesale trade rose in the third quarter led by sales of basic materials such as agricultural products and motor vehicles and auto parts. Source: NBR
Seasonally adjusted sales rose 1% in the three months ended September 30, following a 1.7% gain in the second quarter, which was the fastest pace in two years, Statistics New Zealand figures show.
Statistics NZ changed its methodology in collecting data for the September survey to use more administrative data and reduce its reliance on surveys while also ending its split of raw materials and finished goods in measuring total stocks.
In the latest period, five of six wholesale industries recorded gains.
Basic materials, which spans agricultural, mineral, metal and chemical, and timber and hardware goods and products, rose 1.8%, led by supplies of agricultural products, the second quarterly gain after two declines, partly reflecting the revival in prices of dairy products that has prompted dairy companies to lift their forecast payout to farmers.
Sales of motor vehicles and parts rose 3.7% and machinery and equipment sales gained 1.7%.