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

 

Lull in retail spending for June


The volume of retail sales showed little change in the June 2019 quarter, Stats NZ said today.

After adjusting for price and seasonal effects, the volume of total retail sales rose a modest 0.2 percent, after a 0.7 percent rise in the March 2019 quarter.

“We’ve seen relatively small changes in most of our retail industries this quarter,” retail statistics manager Sue Chapman said.

Electrical and electronic goods retailing had the largest rise, up 5.0 percent after increasing 0.3 percent in March.

The electrical and electronic goods industry, which includes retailing for electrical appliances, mobile phones, and computer and technical equipment, had shown consistent growth for over seven years, after a slight fall in March 2012.

Supermarket and grocery stores had the largest fall in the June 2019 quarter, down 0.9 percent after a 0.4 percent rise in March.

Fuel drives sale value rise

When the effects of price changes are included, total retail sales rose 0.7 percent ($170 million) in the June 2019 quarter, following a minimal 0.1 percent ($17 million) rise in the March quarter.

Fuel retailing boosted the total sales value this quarter, with the largest increase of 2.4 percent ($54 million). This quarter’s rise almost reversed the 1.9 percent ($42 million) fall in the March quarter, highlighting the effects of petrol and diesel price changes in the first half of this year.

“The fuel industry often provides volatile movements which are mainly reflective of the price changes,” Sue Chapman said.

The largest decreases in the June 2019 quarter were in supermarkets and grocery stores, down 0.5 percent ($26 million) and specialised food retailing, down 2.5 percent ($11 million).

In actual terms, the value of total retail sales was $23.7 billion in the June 2019 quarter, up 3.4 percent ($782 million) from the June 2018 quarter.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>

ALSO:

Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>

ALSO:

Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>

ALSO:

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO: