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


Retail Sales Flat In January

Retail Trade Survey: January 2001

Seasonally adjusted retail sales declined by 0.3 per cent in January 2001, according to Statistics New Zealand. This is a decline of $13 million compared to December 2000. However, when the motor vehicle services storetype (67 per cent of which comprises automotive fuel sales) and the motor vehicle retailing storetype are excluded, seasonally adjusted sales for the core retailing group were the same as in December 2000.

The underlying sales trend, which has been positive since October 1997, appears to be flattening. In the six months to January 2001 the trend increased 1.6 per cent. This compares to a 3.3 per cent increase over the previous six months.

A $9 million decline in seasonally adjusted sales for the motor vehicle services storetype made the most significant downward contribution to the overall sales decline. The underlying sales trend for this storetype has declined 1.9 per cent since October 2000, following positive growth from August 1998 to September 2000.

Other storetypes to make key contributions to the decline in seasonally adjusted sales in January 2001 were clothing and softgoods and the other stores storetype. The most sizeable upward movements in seasonally adjusted sales in January 2001 were for the cafes, restaurants and takeaways storetype and the recreational goods storetype.

Statistics New Zealand will no longer publish the Retail Sales Indicator as an early estimate of the monthly change in retail sales. Experience over the past eight months has shown the variability in the estimate was too great for use in forecasting and monitoring economic activity.



© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news