Scoop has an Ethical Paywall
License needed for work use Register

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

 

Vehicles fall overrides core retail increase

Embargoed until 10:45am – 12 December 2008

Vehicles fall overrides core retail increase

Seasonally adjusted total retail sales fell 1.3 percent ($69 million) in October 2008, Statistics New Zealand said today. This drop was dominated by the vehicle-related industries, particularly a 14.5 percent ($90 million) fall in motor vehicle retailing. The trend in motor vehicle retailing sales has fallen 19.6 percent since September 2007 and is at its lowest level since September 2001. Automotive fuel retailing was also down (2.2 percent or $14 million), consistent with lower petrol and diesel prices in October.

Core retailing, which excludes the four vehicle-related industries, rose 0.8 percent ($34 million) in October 2008, with 13 of the 20 core industries having increased sales compared with September 2008. These increases were led by appliance retailing (up 7.6 percent or $15 million), accommodation (up 5.3 percent or $12 million), and clothing and softgoods retailing (up 5.5 percent or $11 million). The largest offsetter to the rise in core retailing was supermarket and grocery stores, with a 1.2 percent ($14 million) fall.

Monthly movements in the total retail sales trend have been close to flat throughout 2008 but have been trending downwards, with October showing a 0.9 percent fall from the start of the year. The core retail sales trend has been rising continually since September 1995, but since mid-2007 has slowed to an average monthly growth of just 0.1 percent.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

In October 2008, sales fell overall in the North Island and were flat in the South Island.

Geoff Bascand
Government Statistician
12 December 2008

ENDS

See also the Hot Off The Press information release Retail Trade Survey: October 2008 (PDF).

rtsoct08alltables1.xls

Retail Trade Survey: October 2008 highlights


For October 2008 compared with September 2008 (on a seasonally adjusted
basis):

Total retail sales fell 1.3 percent ($69 million).
Core retail sales rose 0.8 percent ($34 million).
Motor vehicle retailing sales fell 14.5 percent ($90 million).
Appliance retailing sales rose 7.6 percent ($15 million).
In 14 out of 24 industries, sales moved up or down by less than $3 million.

The total retail sales trend has dropped 0.9 percent since the beginning of
2008.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
FMA: MAS To Pay $2.1M Penalty For Making False Representations

Following proceedings brought by the FMA, MAS has been ordered to pay a $2.1M penalty for making false and/or misleading representations to some customers. MAS admitted failing to correctly apply multi-policy discounts and no claims bonus discounts to some customers, failing to correctly apply inflation adjustments on some customer policies, and miscalculating benefit payments.More

IAG: Call On New Government To Prioritise Flood Resilience

The economic toll of our summer of storms continues to mount, with insurance payouts now topping $1B, second only to the Christchurch earthquakes. AMI, State, & NZI have released the latest Wild Weather Tracker, which reveals 51,000 claims for the North Island floods & Cyclone Gabrielle, of which 99% (motor), 97% (contents), and 93% (home) of claims have now been settled. More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.