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


Retail Sales Growth Continues

Retail Sales Growth Continues

Seasonally adjusted total retail sales increased 1.6 percent in October 2003, compared with September 2003, according to Statistics New Zealand. This is the highest monthly increase since April 2002 and follows increases of 0.4 percent in September 2003 and 0.5 percent in August 2003. Seasonally adjusted sales for the core retailing group (which excludes the motor vehicle retailing and motor vehicle services storetypes) increased 1.8 percent in October 2003, compared with the previous month.

Twelve of the 15 storetypes recorded increases in seasonally adjusted sales in October 2003, compared with September 2003. The largest dollar value increase occurred in the food retailing storetype (up $36 million) and the recreational goods storetype (up $8 million). Of the three storetypes that recorded lower sales, the largest decrease occurred in the department stores storetype (down $1 million).

Five of the six regions recorded higher seasonally adjusted sales in October 2003, compared with September 2003. The Auckland region recorded the largest dollar value increase (up $35 million) while the Canterbury region was virtually unchanged. Seasonally adjusted sales for the Total North Island increased $58 million and the Total South Island recorded an increase of $8 million over the same period.

The trend continued its steady upward movement with an increase of 0.5 percent in October 2003, compared with September 2003. This is similar to the average monthly movement over the past five years.

Brian Pink

Government Statistician


© Scoop Media

Business Headlines | Sci-Tech Headlines


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