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

 


Rise in retail spending

Rise in retail spending

14 May 2014

Retail spending has continued to rise in the first quarter of 2014, Statistics New Zealand said today.

After adjusting for seasonal effects, the volume of total retail trade sales rose 0.7 percent in the March 2014 quarter. This follows a 1.4 percent rise in the previous quarter.

“Ten of the 15 retail industries had higher sales volumes in this latest quarter,” business indicators manager Tehseen Islam said.

The industries with the largest increases in March were:
• electrical and electronic goods retailing, up 5.5 percent
• hardware, building, and garden supplies retailing, up 2.0 percent
• food and beverage services, up 1.5 percent.

"There has been sustained growth in the sales volumes for the electrical and electronic goods industry, with the trend rising for the past six years," Mr Islam said.

The volume of sales in the core retailing industries (which excludes the vehicle-related industries) rose 0.8 percent.

When the effect of price changes is included, the total value of retail sales rose 0.7 percent ($131 million), with sales also rising in 10 of the 15 retail industries. For the core retail industries, sales rose 0.7 percent ($102 million).

Looking at the longer-term picture, the trends for both total retail sales volumes and values have generally been rising since mid-2009.

In actual terms, the value of total retail sales was $18.3 billion in the March 2014 quarter, up 3.4 percent compared with the March 2013 quarter.

For more information about these statistics:

• Visit Retail Trade Survey: March 2014 quarter
Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news