NZ retail sales fall 1.2 percent for May

By NZPA

Tuesday 9th July 2002

New Zealand's retail sales fell a greater than expected 1.2 percent in May, with decreases across the board, Statistics New Zealand said today.

Analysts had expected a fall of 0.7 percent for the month.

The core retailing group, which excludes the motor vehicle services and retailing storetypes dropped by 0.8 percent, seasonally adjusted.

That is the second decrease in seasonally adjusted sales this year -- March figures were down by 0.5 percent -- and comes after a rise of 2.5 percent in April, Statistics NZ said.

Ten of the 15 storetypes recorded lower sales in May compared with April, although the largest falls were recorded in motor vehicle retailing (4.2 percent) and department stores (4.7 percent), Statistics NZ said.

The storetypes to record an increase were accommodation/hotels/liquor, recreational goods, cafes/restaurants/takeaways, food retailing, and furniture/floorcoverings.

The drop in sales was despite a 6.6 percent rise in short-term visitors.

Actual sales totalled $4.14 billion, compared with $3.82 billion in May 2001.

Statistics NZ said the total sales trend remained positive, despite the monthly fall, and continued a pattern of growth since May 1998.

Waikato had the largest decrease (3.1 percent) of the six regions, while Wellington was unchanged. Sales in the South Island, excluding Canterbury, fell 1.4 percent, and Canterbury sales were down 2.6 percent.

Comments from our readers

No comments yet