NZ retail sales rise 0.9% in third quarter, led by cars and petrol

Monday 21st November 2016

New Zealand retail sales rose in the third quarter, led by increased spending on vehicles and fuel.

The volume of retail sales increased a seasonally adjusted 0.9 per cent in the three months ended Sept. 30, slowing from a 2.2 percent rise in the June quarter, Statistics New Zealand said today.

Sales volumes increased in motor vehicle and parts retailing, up 3.4 percent, with fuel retailing increasing 2.2 percent. Ten of the 15 industries surveyed had higher sales volumes this quarter, with the largest increase in accommodation, up 4.7 percent, the agency said.

Nine of the 15 industries had higher sales values in the quarter, led by motor vehicle and parts retailing which rose 3 percent to $85 million. Increased sales volumes for vehicles and fuel accounted for almost three-quarters of the September quarter's total increase, Stats NZ said.

The retail trade survey release was originally scheduled for last Wednesday but was delayed after last Monday's 7.8 magnitude earthquake and aftershocks damaged its Wellington base to the extent that it could be up to a year before it can be reoccupied.

On an unadjusted basis, the volume of retail spending rose 4.7 per cent to $20.1 billion in the September quarter compared with the same quarter in 2015.

BusinessDesk.co.nz

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