Economic Buzz: New Zealand Retail Sales Drop 0.5%

24 May 2022 , 01:33 PM

The total volume of retail sales in New Zealand was down a seasonally adjusted 0.5 percent on quarter in the first quarter of 2022, according to the Statistics New Zealand. That follows the downwardly revised 8.3 percent increase in the three months prior (originally 8.6 percent). The total value of retail sales was up 0.5 percent on quarter or NZ$133 million in Q1. On a yearly basis, sales volume was up 2.3 percent, slowing from 4.4 percent in the previous three months.Powered by Commodity Insights