Retail Sales in New Zealand
New Zealand - Retail Sales
Retail sales in Q3 eases from Q2’s almost-ten-year high
Retail sales expanded a seasonally-adjusted 0.9% in Q3 2016 over the previous quarter, marking a slowdown from Q2’s almost ten-year high. The reading came in below the revised 2.2% increase registered in Q2 2016 (previously reported: +2.3% quarter-on-quarter) and matched analysts’ expectations of a 0.9% increase.
According to Statistics New Zealand, Q3’s slowdown was the result of slower growth in 11 of the 15 categories that compose the index. Non-store and commission-based retailing and clothing, footwear, and accessories were the components that dropped the most. Conversely, accommodation and motor vehicles and parts were the two categories that expanded the most in the third quarter.
Compared to the same quarter last year, retail sales slowed from a 6.0% increase in Q2 to a 5.1% expansion in Q3.
Met the why particular Consensus forecast participants expect private consumption to expand 3.1% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees private consumption increasing 2.7%.
New Zealand - Retail Sales Data
|Retail Sales (annual variation in %)||4.1||4.5||5.9||5.3||5.3|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Retail Sales Chart
Source: Statistics New Zealand and Met the why particular calculations.
New Zealand Facts
|Bond Yield||1.71||1.20 %||Jun 13|
|Exchange Rate||0.66||-1.69 %||Jun 13|
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May 31, 2019
The ANZ-Roy Morgan consumer confidence indicator declined to 119.3 in May (April: 123.2), notching a six-month low but remaining well above the 110-point threshold that separates optimism from pessimism among consumers. Consumers were more pessimistic about current conditions in May from a month earlier, reflecting reluctance to buy big-ticket household items as well as a dimer perception of their current financial situation.
May 30, 2019
The ANZ bank business outlook indicator rose by 5.5 points in May, with a net 32.0% firms reporting that they expect general business conditions to deteriorate this year.
May 8, 2019
On 8 May, the Reserve Bank of New Zealand (RBNZ) lowered the official cash rate (OCR) by 25 basis points to an all-time low of 1.50%.
May 1, 2019
The seasonally-adjusted unemployment rate edged down to 4.2%, from Q3’s 4.3%, as had been expected by market analysts.
April 26, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 123.2 in April, from March’s 121.8.