Retail sales recover in November
Retail sales rose a seasonally adjusted 1.5 percent or $82 million in November from October, boosted by rises to vehicle and fuel sales, Statistics New Zealand (SNZ) says.
Retail sales rose a seasonally adjusted 1.5 percent or $82 million in November from October, boosted by rises to vehicle and fuel sales, Statistics New Zealand (SNZ) says.
Figures out today show vehicle and parts retailing rose 11.8 percent or $69m, seasonally adjusted, in November. That followed a 14.3 percent fall in October, the largest decrease recorded for the sector since 2005.
In November fuel sales were up 3.6 percent or $20m, on top of a rise of 6.2 percent or $33m in October.
The trend for fuel retailing had risen 5.2 percent since last July, but in November was 14 percent lower than its peak in July 2008, SNZ said.
Core retail sales, which exclude the vehicle-related industries, slipped 0.2 percent or $7m, following a fall of 1.6 percent in October and a rise of 1.7 percent in September. Supermarket and grocery store retailing fell 2.8 percent or $40m in November, while electrical and electronic goods sales lifted 5.8 percent or $11m.
The 1.5 percent rise in total sales in November followed a 2.4 percent fall in October and a 2 percent rise in September.
SNZ said it was likely the figures in September and October were influenced by a rise in GST on October 1.
Actual sales in November were 2.5 percent or $136m higher than a year earlier. Core retail sales were up 0.6 percent or $28m over the same period.
NZPA
Fri, 21 Jan 2011
Fri, 21 Jan 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Retail sales recover in November
11720