Economic Buzz: New Zealand Retail Sales Fall 2.3% In Q2

25 Aug 2022 , 11:50 AM

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 reported – 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.Powered by Commodity Insights