Real retail sales in New Zealand, when the effect of price changes is removed, gained 0.5 percent in the first quarter compared to the previous three months, Statistics New Zealand said on Tuesday, with sales volumes rising in 10 of the 15 retail industries. The headline figure was shy of forecasts for a gain of 0.8 percent following the 2.1 percent increase in the fourth quarter of 2012. The warmer-than-usual start to autumn has weakened clothing and footwear sales, Statistics New Zealand said today. Looking at the longer-term picture, the trends for both total retail sales values and volumes have been generally rising since mid-2009, after a period of sharp decline.
Source by Commodity Insights
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