New Zealand wholesale sales slip in Q2

[WELLINGTON] New Zealand seasonally adjusted wholesale sales fell 0.1 per cent in the second quarter due to lower basic materials and machinery and equipment, official data showed on Monday.

Statistics New Zealand said the dip for the three months to June compared with an upwardly revised 0.7 per cent slide in the first quarter.

The total value of wholesale stocks was NZ$9.78 billion (S$8.76 billion) for the quarter.

The data is one of the final components of gross domestic product data to be released on Sept 17

REUTERS