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Retail spending quiet

Posted on 26 November, 2017

New figures reveal a decrease in retail spending in the September 2017 quarter. Retailers saw quieter spending in the September 2017 quarter from the buoyant June period, which was boosted by increases from the hospitality industries, Statistics NZ said. "There were strong increases from the food and beverage services and accommodation industries in June, on the back of the World Masters Games and the Lions tour," retail trade manager Sue Chapman said. "However, the reverse has occurred this quarter, with both of these industries falling." According to Statistics NZ, after being adjusted for price and seasonal effects, total retail sales volumes rose 0.1 percent ($30 million) in the September 2017 quarter. The last time retail sales growth was around this level was in the June 2015 quarter, when values rose 0.2 percent ($36 million). In comparison to the last recorded quarter in June, 8 of the 15 industries had higher sales values with supermarket and grocery sales recording the largest movement, up 1.6 percent ($78 million). The largest decrease was in fuel retailing, down 3.2 percent ($64 million). Spending on motor vehicles and parts, excluding fuel, remained the same since the June quarter, but was up 9.5 per cent from the same September quarter in 2016.   In actual terms, the value of total retail sales was $21.9 billion in the September 2017 quarter, up 5.4 percent ($1.1 billion) from the September 2016 quarter.