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Department Stores Drive July Retail Growth

Department Stores Drive July Retail Growth

Seasonally adjusted total retail sales increased 1.2 percent in July 2004, compared with June 2004, according to Statistics New Zealand. This follows increases of 1.2 percent in June 2004 and 0.2 percent in May 2004. Excluding the motor vehicle-related industries, seasonally adjusted sales were 1.6 percent higher in July 2004 than in the previous month.

Fourteen of the 24 retail industries recorded increases in seasonally adjusted sales for the month. Department stores recorded the largest dollar value increase (up $22 million), followed by recreational goods retailing (up $9 million). Takeaway food retailing recorded the largest decrease (down $6 million). Sales for household equipment repair services, clothing and softgoods, footwear, and hardware retailing, were relatively unchanged this month.

The total retail sales trend increased by 0.5 percent in July 2004, continuing the steady increase since May 1998. Total actual retail sales for July 2004 were $4,563 million, 7.9 percent higher than in July 2003.

Brian Pink
Government Statistician
END


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