New Zealand Wholesale Trade Sales Decline Slows In Q3

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Wholesale trade sales in New Zealand dropped a seasonally adjusted 0.8% quarter-on-quarter to NZ$20.22 billion in the third quarter compared to the 1.1% fall in the previous quarter, Statistics New Zealand reported on Monday. This marks the fifth straight quarter in which wholesale trade sales have declined.

Nine of the sixteen wholesaling industries registered falling sales in the third quarter. The largest decline was recorded in the primary product food wholesaling, down 8.4% on quarter. Steep decreases were also recorded in farm, construction machinery & professional business equipment wholesaling, and motor vehicle wholesaling.

Total wholesale stocks fell 5.1% sequentially in the third quarter, the largest quarterly fall on record. Stock decreases were recorded in twelve of the sixteen wholesaling industries, led by petroleum product wholesaling.

Wholesale trade sales in New Zealand dropped a seasonally adjusted 0.8% quarter-on-quarter to NZ$20.22 billion in the third quarter compared to the 1.1% fall in the previous quarter, Statistics New Zealand reported on Monday. This marks the fifth straight quarter in which wholesale trade sales have declined. (Market News Provided by RTTNews)