New Zealand Retail Sales Sink 2.3% On Quarter In Q2
(RTTNews) - The total volume of retail sales in New Zealand was down a seasonally adjusted 2.3 percent on quarter in the second quarter of 2022, Statistics New Zealand said on Thursday - after slipping 0.5 percent in the three months prior.
Among the individual components, motor vehicle and parts retailing were down 5.8 percent on quarter; electrical and electronic goods retailing were down 6.1 percent; supermarket and grocery stores were down 2.9 percent; hardware, building, and garden supplies were down 5.3 percent; and food and beverage services were up 3.3 percent.
On a yearly basis, retail sales were down 3.7 percent after rising 2.3 percent in the first quarter.
The total value of seasonally adjusted retail sales was NZ$29 billion, up NZ$1.1 million.
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