Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Retail Sales Show Slower Growth Trend Statistics

Retail Trade Survey: November 1999

November Retail Sales Show Slower Growth Trend Statistics

New Zealand's retail trade figures for November 1999 show the trend for retail sales has continued to grow although at a slower rate than during the September quarter. The sales trend has now been growing since mid-1998 at an average rate of half a per cent per month.

With seasonal variations removed, retail sales increased marginally between October and November 1999. The increase in home mortgage interest rates may have, in part, contributed to the flatter November result. Despite increasing interest rates consumer confidence is at a three year high according to the WestpacTrust McDermott Miller consumer confidence report.

Figures released recently by Statistics New Zealand show that the resident-population base has contracted. New Zealand had a net loss of 9,500 permanent and long-term migrants for the year ended November 1999, however, from a retail spending perspective this was off-set to some extent by record short-term visitor arrivals. The storetypes of accommodation, hotels and liquor; cafes, restaurants and takeaways; and other stores (includes souvenir and duty free stores) which are usually affected by short-term visitor arrivals all recorded increases in sales this month.

The underlying sales trend for all regions including the predominantly rural areas of Waikato, Remainder of the North Island, Canterbury and the Remainder of the South Island have grown since January 1999. This is consistent with reports of increased rural confidence due to improved growing conditions since the drought and increasing exports.

Ian Ewing DEPUTY GOVERNMENT STATISTICIAN

END

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>