NZ: Retail spending quiet in the September quarter
"Retailers saw quieter spending in the September 2017 quarter from the buoyant June period, which was boosted by increases from the hospitality industries," the Statistics New Zealand announced recently.
There were strong increases from the food and beverage services and accommodation industries in June. However, the reverse has occurred this quarter, with both of these industries falling.
After adjusting for price and seasonal effects, total retail sales volumes rose 0.2 percent with an almost even split of movements over the 15 industries.
This quarter’s rise followed a 1.8 percent increase in the June 2017 quarter.
Of the eight industries to record increases in the September 2017 quarter, electrical and electronic goods had the largest rise (up 5.1 percent) while food and beverage services recorded the largest decrease (down 3.1 percent).