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New Zealand Businesses See Sales, Operating Profit Growth in June Quarter

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Sales for businesses in New Zealand increased 8.9% year over year in the June quarter to NZ$214 billion, while their operating profit rose 7.9% to NZ$29 billion, data from Stats NZ showed Tuesday.

Almost all industries recorded sales growth compared with the March quarter in seasonally adjusted terms, including wholesale trade with an increase of 6.4%; electricity, gas, water, and waste services up 20%; and manufacturing recording a gain of 3.1%.

Meanwhile, sales for the rental, hiring, and real estate services industry declined 0.4% in the June quarter from the previous three-month period.

For all industries combined, purchases were NZ$151 billion in the June quarter, up 10% from a year earlier. Aggregate salaries and wages paid totaled NZ$33 billion, an increase of 3.7% year over year, the data showed.

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