New Zealand Retail

New Zealand

New Zealand: Retail sales pick up in Q3

November 17, 2014

Retail sales expanded a seasonally-adjusted 1.5% over the previous quarter in Q3. The reading was up from the 1.1% increase tallied in Q2 and exceeded market expectations of a 0.8% expansion.

According to the statistical office, 12 of the 15 retail industries registered higher sales volumes in this latest quarter. Q3’s expansion mainly reflected an increase in food-related industries. Sales volumes for supermarkets and grocery stores rose 1.9%, while food and beverage services increased 3.0% in Q3.

Compared to the same period last year, retail sales jumped from a 3.6% increase in Q2 to a 4.7% expansion in Q3, which marked the highest gain since Q3 2013.

FocusEconomics Consensus forecast participants expect private consumption to expand 2.9% in 2014, which is unchanged from last month’s projection. For 2015, the panel sees private consumption increasing 2.8%, which is also unchanged from last month’s Consensus.

Author:, Economist

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New Zealand Retail Chart

New Zealand Retail Q3 2014

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

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