New Zeland's Q2 wholesale sales rise


  • Business
  • Monday, 12 Sep 2011

WELLINGTON, Sept 12 (Reuters) New Zealand's seasonally adjusted wholesale sales rose 2.2 percent in the three months to June, according to official data on Monday.

It was the seventh consecutive quarterly increase and was driven by a 9.8 percent rise in the 'other goods wholesaling' sector that includes textiles, footwear and pharmaceuticals, with a 4.5 percent increase in motor vehicle sales, Statistics New Zealand reported.

Basic materials wholesaling was the only fall in the June quarter, down 0.7 percent.

The value of sales in the quarter was NZ$20.7 billion ($17 billion).

The level of wholesale stocks fell a seasonally adjusted 0.5 percent, from the previous quarter's 0.2 percent fall.

The survey monitors the level of activity in the wholesale trade sector, which supplies retailers.

In a separate release, the agency said guest nights in short term commercial accommodation rose 2.0 percent in July from a year earlier, the third monthly increase.

The increase was driven by a rise in domestic tourist activity, with the number of local guest nights up 8.5 percent.

The number of nights spent by international tourists fell 8.9 percent, pulled down by a drop in South Island regions.

International visitor arrivals have fallen in the past four months, which has been attributed to the aftermath of the Christchurch earthquakes and the disruption to air travel from the eruption of a volcano in Chile.

Tourism accounts for around 10 percent of New Zealand's gross domestic product.

New Zealand's economy is expected to have grown by 0.6 percent in the three months to June 30, according to a preliminary Reuters poll.

The economy grew an unexpected 0.8 percent in the March quarter, shrugging off the devastating Christchurch earthquake and reflecting a resilient domestic economy.

Second quarter GDP will be released on September 22. ($1=NZ$1.22)


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