Wholesale trade stocks fell by a record amount in the September quarter, while wholesale trade sales fell for a fifth consecutive quarter.
Publishing the data today, Statistics New Zealand (SNZ) said stocks fell a seasonally adjusted 5.1 percent or $545 million in the latest quarter compared to the three months to June.
That was the largest quarterly fall since the series started in 1995, and extended the longest and fastest period of decline in stocks in that time, SNZ said.
Total value of stocks in the September quarter was $10.1 billion.
Petroleum product wholesaling stocks, which are not seasonally adjusted, fell 23.8 percent to $374m in the September quarter, following a rise of 22.4 percent or $288m the quarter before.
Total wholesale trade sales fell a seasonally adjusted 0.8 percent or $154m inthe three months to September, compared to the June quarter.
Before the current five consecutive quarters of falling sales, total wholesale trade sales had never fallen for longer than two quarters, SNZ said.
The latest fall in sales brought the total value to $20.2b, a level last seen nearly three years ago.
The main sectors showing falling sales included primary product food wholesaling, which fell a seasonally adjusted 8.4 percent or $148m compared to June.
Farm, construction machinery, and professional business equipment wholesaing fell 6.6 percent or $119m, and vehicle wholesaling fell 5.1 percent or $69m.
Sectors recording sales rises included food and grocery wholesaling, which lifted 4.1 percent or $172m, and petroleum product wholesaling, which is not seasonally adjusted, up 4.2 percent or $66m.
NZPA