New Zealand Retail Sales Slip 1.0% In Q2

(RTTNews) - The total volume of retail sales in New Zealand was down a seasonally adjusted 1.0 percent on quarter in the second quarter of 2023, Statistics New Zealand said on Wednesday, coming in at NZ$25 billion.

That beat forecasts for a decline of 2.6 percent following the downwardly revised 1.6 percent contraction in the three months prior (originally -1.4 percent).

Core retail sales fell 1.8 percent on quarter, also beating expectations for a fall of 2.5 percent following the 1.5 percent decline in the first quarter.

The total value of seasonally adjusted retail sales was NZ$30 billion, down 0.2 percent on quarter.