NZ wholesale trades shrinks for second quarter as agri sector weighs on basic material products

Mon, 06 Jun 2016

By Paul McBeth June 7 (BusinessDesk) - New Zealand wholesale trade fell for a second quarter in the first three months of this year as a weak agricultural sector kept a lid on sales of basic materials. Seasonally adjusted sales fell 0.4 percent in the three months ended March 31, adding to the 0.3 percent decline in the December quarter, Statistics New Zealand said. The quarterly fall was driven by a 3.7 percent drop in sales of basic materials, which spans agricultural, mineral, metal and chemical, and timber and hardware goods and prod...

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