New Zealand: Q3 retail sales accelerate
November 16, 2015
Retail sales expanded a seasonally-adjusted 1.6% in Q3 over the previous quarter. The reading was above the 0.1% rise tallied in Q2. The figure overshot market expectations of a softer 1.2% expansion.
According to the statistical institute, over half of retail industries registered higher sales volumes. Q3’s performance mainly reflected a strong increase in car sales, which accounted for almost a quarter of the total rise.
Compared to the same period last year, retail sales inched up from a 5.6% increase in Q2 to a 5.7% expansion in Q3.
Author: Eric Denis , Economist