Global Economic News

New Zealand Q1 Retail Sales Rise 0.8%

The total volume of retail sales in New Zealand climbed a seasonally adjusted 0.8 percent on quarter in the first three months of 2016, Statistics New Zealand said on Friday.

That was shy of expectations for 1.0 percent and down from the downwardly revised 1.1 percent in the three months prior (originally 1.2 percent).

Electrical and electronic goods retailing had the largest volume increase, up 3.8 percent.

"Consumers continued to spend-up on electrical and electronic goods this quarter," business indicators senior manager Neil Kelly said. "There has been sustained growth in this industry for some time, with the trend rising over the past eight years."

Eleven of the 15 industries had higher sales volumes in the latest quarter, with the largest increases in: electrical and electronic goods retailing - up 3.8 percent; non-store and commission-based retailing - up 10 percent; and food and beverage services - up 1.3 percent.

The total value of retail sales gained 0.6 percent on quarter to NZ$20.2 billion. That follows the 1.1 percent increase in the previous three months.

Twelve of the 15 retail industries had higher sales in the latest quarter. However, there was a large fall in fuel retailing, down 4.9 percent (NZ$94 million).

In actual terms, the value of total retail sales was up 4.7 percent (NZ$903 million) on year.

by RTTNews Staff Writer

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