New Zealand Retail

New Zealand

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.

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 Q3 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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