Car sales drive retail sales up 0.8% in December quarter
Motor vehicle and parts retailing saw sales volumes rise 1.9%.
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Local Govt
New Zealand retail sales gained in the fourth quarter, led again by motor vehicle and parts retailing, with 11 of the 15 industries monitored seeing higher sales volumes.
The volume of retail sales increased a seasonally adjusted 0.8 per cent in the three months ended December 31, from a 0.9% rise in the September quarter, Statistics NZ said today. The total value of retail sales, seasonally adjusted, rose 1.1% in the quarter to $21.08 billion.
Motor vehicle and parts retailing saw sales volumes rise 1.9%, while volumes in core retail, which excludes motor vehicles and fuel, rose 0.6% in December, outperforming September's 0.2% growth, the agency said.
"This is the third consecutive quarter this industry has been at the forefront of retail quarterly movements. Rises of 3.1% and 3.0% were seen in the September and June 2016 quarters, respectively. Several dealer respondents commented on having a very busy quarter – showroom upgrades, promotions, and more general customer-focused marketing resulted in higher sales," Statistics NZ commented. "In actual terms, NZ Transport Agency figures continued to show increases for registrations of passenger vehicles, up 11% in the December 2016 quarter from the same period in 2015."
Sales values rose for 13 of the 15 industries in the quarter, led by motor vehicle and parts retailing, which rose 2.7% to $4.86 billion. Pharmaceutical and other store-based retail rose 3.1% to $1.36 billion and accommodation rose 4% to $946 million while non-store and commission-based retailing dropped 4.8% to $345 million.
The North Island saw sales values rise 1.2% to $16.1 billion in the quarter, with $7.92 billion of that in Auckland, $2.03 billion in Waikato and $2.02 billion in Wellington. Sales values rose 1.5% to $5 billion in the South Island.
On an unadjusted basis, the value of retail spending rose 4.7 per cent to $22.8 billion in the December quarter compared with the same quarter in 2015.
(BusinessDesk)
Sophie Boot
Fri, 17 Feb 2017
Fri, 17 Feb 2017
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Car sales drive retail sales up 0.8% in December quarter
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