In the fourth quarter, retail sales rose a seasonally adjusted 2.2% over the previous month, which was slightly below the revised 2.4% expansion recorded in the third quarter (previously reported: +2.2% quarter-on-quarter). The fourth quarter expansion overshot market expectations of a 0.8% increase. Compared to the same period last year, retail sales accelerated from 3.9% in the third quarter to 6.6% in the fourth, which marked the fastest growth rate since the second quarter of 2007. According to the National Statistics Office, the quarterly expansion reflected strong growth in core retail sales (which exclude vehicle-related sales), particularly in sales of supermarket and groceries stores as well as electronics goods sales. In the full year 2011, retail sales grew 3.2%, which was stronger than the 2.0% expansion recorded in 2010 and thus pushed retail sales above pre-crisis levels.
New Zealand Retail
Retail sales maintain strong momentum in fourth quarter
February 15, 2012
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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.