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Retail growth positive

By Phil Boeyen, ShareChat Business News Editor

Thursday 17th May 2001

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Figures for the March quarter show New Zealand's retail sales have continued to increase, with growth at double the rate of the December quarter.

Statistics New Zealand says seasonally adjusted retail sales for March were 0.9% higher than in February, and sales for the quarter rose 1.8% compared with the December 2000 quarter.

"This is double the previous quarter's movement. When the effects of price increases are removed, retail sales increased by 1.4 per cent this quarter," a statement says.

The figures show sales growth was broadly based, with 12 of the 15 store types recording an increase in seasonally adjusted sales the latest quarter.

The largest contributors to the growth were motor vehicle retailing and food retailing while decreases in motor vehicle services, appliance retailing and 'other stores' partially offset the rises.

Statistics New Zealand says the latest results continue a pattern of growth seen over recent years.

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