Retail sales continue to climb

By Phil Boeyen, ShareChat Business News Editor

Tuesday 12th February 2002

The retail sector finished last year on a high note according to latest figures showing December retail sales rose by 0.8% compared with the previous month.

The December figure, combined with a flat October and an increase in November, contributed to a 2% increase for the December quarter, compared with the September quarter, Statistics New Zealand reports.

That compares to average quarterly growth of 1.4% since the June 1998 turning point.

"The December quarter result was driven in part by a large increase in motor vehicle retailing with seasonally adjusted sales increasing 7.9% compared with the September 2001 quarter," Statistics NZ says.

"This increase was due to a rise in the volume of sales, which were up 7.4% over this period. This is the largest volume rise since March 1992 when volumes also rose by 7.4%. "

Seasonally adjusted sales for the core retailing group, which excludes the motor vehicle services and motor vehicle retailing storetypes such as service stations, increased 1.8% in the December quarter.

Out of the 15 storetypes surveyed, eleven recorded increases in seasonally adjusted sales in the last quarter. Motor vehicle retailing made the largest contribution, up 7.9%, followed by food retailing, up 1.5%. Offsetting these increases were motor vehicle services, down 2.8% and department stores, down 0.9%.

Seasonally adjusted sales for the North Island increased 2.1% with Waikato recording the largest increase at 3.9%. Sales in the South Island rose by 1.7%.

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