Retail Sales in New Zealand
New Zealand - Retail Sales
Retail sales in Q3 eases from Q2’s almost-ten-year high
Retail sales expanded a seasonally-adjusted 0.9% in Q3 2016 over the previous quarter, marking a slowdown from Q2’s almost ten-year high. The reading came in below the revised 2.2% increase registered in Q2 2016 (previously reported: +2.3% quarter-on-quarter) and matched analysts’ expectations of a 0.9% increase.
According to Statistics New Zealand, Q3’s slowdown was the result of slower growth in 11 of the 15 categories that compose the index. Non-store and commission-based retailing and clothing, footwear, and accessories were the components that dropped the most. Conversely, accommodation and motor vehicles and parts were the two categories that expanded the most in the third quarter.
Compared to the same quarter last year, retail sales slowed from a 6.0% increase in Q2 to a 5.1% expansion in Q3.
FocusEconomics Consensus forecast participants expect private consumption to expand 3.1% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption increasing 2.7%.
New Zealand - Retail Sales Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Retail Sales (annual variation in %) | 4.1 | 4.5 | 5.9 | 5.3 | 5.3 |
New Zealand Retail Sales Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.83 | 1.20 % | May 13 |
| Exchange Rate | 0.66 | -1.69 % | May 13 |
| Stock Market | 4,438 | 0.11 % | May 13 |
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Economic News
New Zealand: RBNZ lowers the OCR to a new record low
May 8, 2019
On 8 May, the Reserve Bank of New Zealand (RBNZ) lowered the official cash rate (OCR) by 25 basis points to an all-time low of 1.50%.
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May 1, 2019
The seasonally-adjusted unemployment rate edged down to 4.2%, from Q3’s 4.3%, as had been expected by market analysts.
New Zealand: Consumer confidence rises to an over-a-year high in April
April 26, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 123.2 in April, from March’s 121.8.
New Zealand: Inflation falls further below Central Bank target
April 17, 2019
Consumer prices rose 0.1% in Q1 2019 over the previous quarter, matching Q4 2018’s uptick, according to Statistics New Zealand.
New Zealand: Consumer confidence edges up in March
March 29, 2019
The ANZ-Roy Morgan consumer confidence indicator ticked up to 121.8 in March, from February’s 120.8.
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