New Zealand Retail

New Zealand

New Zealand: Q2 retail sales show slowest increase in over three years

August 14, 2015

Retail sales expanded a seasonally-adjusted 0.1% in Q2 over the previous quarter. The reading was below the 2.3% rise tallied in Q1. The figure, which marked the slowest gain since Q1 2012, undershot market expectations of a 0.5% expansion.

According to the statistical institute, about half of retail industries registered lower sales volumes last quarter. Q2’s poor performance mainly reflected a decrease in the fuel retailing industry, which was down 0.9% quarter-on-quarter.

Compared to the same period last year, retail sales fell from a 7.4% increase in Q1 to a 5.9% expansion in Q2.

FocusEconomics Consensus forecast participants expect private consumption to expand 3.1% in 2015, which is unchanged from last month’s projection. For 2016, the panel sees private consumption increasing 2.5%.

Author:, Economist

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New Zealand Retail Chart

New Zealand Retail Q2 2015

Note: Quarter-on-quarter seasonally adjusted and annual variation of retail sales in %.
Source: Statistics New Zealand and FocusEconomics calculations.

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