New Zealand Retail Sales Rise 0.5% On Quarter In Q1
(RTTNews) - The total volume of retail sales in New Zealand was up a seasonally adjusted 0.5 percent on quarter in the first three months of 2024, Statistics New Zealand said on Thursday.
That beat forecasts for a decline of 0.3 percent following the 1.9 percent contraction in the three months prior.
By industry, the largest movements were: hardware, building, and garden supplies, down 2.8 percent; food and beverage services, up 2.2 percent; motor vehicle and parts retailing, up 1.1 percent; recreational goods retailing, up 4.7 percent; and accommodations, up 4.1 percent.
The value of retail sales was up a seasonally adjusted 0.7 percent on quarter at NZ$30 billion.
On a yearly basis, sales were down 2.4 percent after sinking 4.1 percent in the previous three months.
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