WELLINGTON: New Zealand seasonally adjusted wholesale sales fell 0.4 percent in the first quarter, official data showed on Monday.
Statistics New Zealand said the biggest dip was for machinery and equipment sales, such as electronics and telecommunications, which just offset an increase in sales of raw materials for agriculture and building.
The data compared with a downwardly revised 2.3 percent rise in the previous quarter. It is one of the final components of gross domestic product data to be released on June 19.
The seasonally adjusted value of total wholesale stocks in the three months to March 31 rose 1.7 percent to NZ$9.2 billion ($7.82 billion)
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