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Retail Sales Up

Retail Trade Survey: July 2000

Seasonally adjusted sales for July 2000 increased by 0.7 per cent following an identical increase in June 2000, according to Statistics New Zealand.

Increases this month are broadly based. Eleven of the thirteen storetypes in the core retailing group (excluding the motor vehicle storetypes) recorded a rise. The range of increases in seasonally adjusted sales covered $1 million to $9 million. The trend in total retail sales has been growing since mid-1998.

Higher prices for crude-oil and the depreciating New Zealand dollar are likely to have contributed to the large increase (4.1 per cent) in seasonally adjusted sales for motor vehicle services this month.

Seasonally adjusted sales for motor vehicle retailing declined by 3.2 per cent this month. The number of motor vehicles imported in July 2000 fell by 21 per cent compared to July 1999. High stock levels and low sales may have contributed to the fall.

Ian Ewing DEPUTY GOVERNMENT STATISTICIAN

END

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