Retail spending up 1.1%

Strengthened spending in most retail industries lifted total sales for the June 2018 quarter, Stats NZ said today. 

After adjusting for seasonal effects the total retail sales volume rose 1.1 per cent, after a modest 0.3 per cent rise in the March 2018 quarter.

“This quarter had growth in a number of industries, some of which had fallen last quarter,” retail trade manager Sue Chapman said.

Eleven of the 15 retail industries had higher sales volumes in the June 2018 quarter.

The motor vehicles and parts industry was one of them, with a recorded increase of 0.4 per cent, or $13.07 million compared to the March 2018 quarter. 

Hardware and building supplies, on the other hand, had the largest increase this quarter with a  4.7 per cent increase on the previous quarter. 

The fuel industry had a 0.7 per cent fall in sales volume, its fourth consecutive quarterly fall.

The total value of stock on the rise

The total value of stock held at 30 June 2018 totalled $7.9 billion, a 3.8 per cent, or $290 million, increase on 30 June 2017.

Motor vehicle and parts retailing had the largest increase, up 6.1 per cent, or $109 million, when compared to the same period last year. 

The motor vehicle and parts industry's increase accounted for more than one-third of the total stocks increase. 

The next-largest industry increase was for non-store and commission-based retailing, up 51 per cent ($57 million).