In the second quarter, retail sales expanded a seasonally adjusted 1.3% over the previous quarter, which contrasted the revised 0.6% drop recorded in the first quarter (previously reported: -1.6% quarter-on-quarter). The expansion exceeded market expectations, which had retail sales growing 0.7%. Compared to the same period a year ago, retail sales accelerated from a 4.3% increase in the first quarter to a 4.8% expansion in the second. According to the statistical office, the expansion was mainly the result of strong sales of motor vehicles and parts (+7.5 qoq). In addition, the reading reflected a broad-based increase in core retail sales (which exclude vehicle-related sales), particularly sales of pharmaceutical and other store-based retailing.
New Zealand Retail
Retail sales expand in second quarter buttressed by cars sales
August 15, 2012
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Note: Quarter-on-quarter seasonally adjusted and annual variation of retail sales in %.
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Economic News
October 19, 2016
In Q3, consumer prices edged down from the quarter-on-quarter seasonally-adjusted 0.4% increase observed in Q2 to 0.2%.
September 30, 2016
Economic sentiment among New Zealand businesses rebounded in September after declining for two consecutive months.
September 22, 2016
At its meeting held on 22 September, the Reserve Bank of New Zealand (RBNZ) decided to keep the Official Cash Rate (OCR) at 2.00%.
September 19, 2016
New Zealanders’ confidence rose in Q3 after having deteriorated in the previous two quarters.
September 15, 2016
GDP grew a seasonally-adjusted 0.9% over the previous quarter in Q2, which matched the result tallied in Q1.