New Zealand Retail Sales Sink 0.6% In Q4

(RTTNews) - The total volume of retail sales in New Zealand was down a seasonally adjusted 0.6 percent on quarter in the fourth quarter of 2022, Statistics New Zealand said on Monday.

That missed expectations for an increase of 0.2 percent following the 0.4 percent gain in the third quarter.

On a yearly basis, retail sales sank 4.0 percent - again missing forecasts for an increase of 0.5 percent following the 4.9 percent gain in the three months prior.

Core retail sales shed 1.3 percent on quarter versus forecasts for an increase of 0.3 percent after rising 0.5 percent in the previous quarter.

The Total value of seasonally adjusted retail sales in the quarter was NZ$31 billion, up 1.7 percent.