Skyeast Investment Corporation

Wholesale trade sales in New Zealand increased 2.2% between April and June compared to the previous three months following a similar 2.2% rise in the March quarter, Statistics New Zealand said on Tuesday.

Sales rose in nine of the 16 wholesale industries, with the increase mainly driven by primary product food, machinery & equipment, and unprocessed primary products. On the other hand, the largest fall was in food & grocery products.

The value of wholesale trade stocks fell 1.8% to NZ$10.1 billion in the June quarter, reversing a 1.6% rise in the previous quarter. (Provided by RTTNews)