Retail sales in New Zealand declined at the fastest pace in three years in the March quarter, after a temporary boost from the Rugby World Cup in the previous two quarters played out, data released by Statistics New Zealand showed Monday.
Retail sales, including trade in vehicles, fell 1.5 percent quarter-on-quarter in the March quarter. This was the largest drop since March 2009, the statistical office said.
This followed a 1.8 percent increase in the December quarter and 2.3 percent rise in the September quarter.
Sales volumes for the core retail industries, which exclude vehicle-related industries, fell 2.5 percent in the March quarter. This was the largest seasonally adjusted decrease since this series began in 1995.
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