New Zealand: Q4 retail sales moderate
February 16, 2016
Retail sales expanded a seasonally-adjusted 1.2% in Q4 over the previous quarter. The reading was below the 1.5% rise tallied in Q3. The figure undershot market expectations of a stronger 1.4% expansion.
According to the statistical institute, 6 out of 15 retail industries registered softer sales volumes in Q4 than in the previous quarter. In particular, motor vehicles and electronic goods suffered the most significant deteriorations.
Compared to the same period last year, retail sales inched down from a 5.7% increase in Q3 to a 5.3% expansion in Q4.
Author: Eric Denis , Economist