January retail statistics better than expected

January retail statistics better than expected

Statistics New Zealand's latest retail figures for January were better than expected according to a key Auckland retail group, with core retail sales slightly up on the previous month on a seasonally adjusted basis.

"The vehicle categories took another expected hit, but overall core retail held its own. Big ticket items such as appliances, furniture and floor coverings were down but everything else held its own or slightly increased. Movements in core retail were actually very nominal which will surprise some people," says Cameron Brewer, head of the Newmarket Business Association.

"We were anticipating January's figures would have slipped across the country, so this result is welcome news. Interestingly New Zealand's official retail figures in the past few months have been comparable to previous years despite all the doom and gloom.

“We aren't seeing the big troughs like they’re seeing in the United States and the UK. We may have had a flat summer, but they’ve had a shocking winter.

"Having weathered the summer relatively well, New Zealand retailers generally remain in better shape than their overseas counterparts," says Mr Brewer.

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