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

 

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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