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

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news