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
|Retail Sales (annual variation in %)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Retail Sales Chart
Source: Statistics New Zealand and FocusEconomics calculations.
New Zealand Facts
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July 16, 2019
Consumer prices increased 0.6% in Q2 2019 over the previous quarter, up notably from Q1 0.1% uptick, according to Statistics New Zealand.
June 28, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 122.6 in June (May: 119.3), moving further above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more optimistic about their current financial situation, and they also grew more confident about their future financial conditions.
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June 26, 2019
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