New Zealand Q2 Retail Sales Spike 2.0%

Trading 14 août 2017 Donner votre avis

The total volume of retail sales in New Zealand surged a seasonally adjusted 2.0 percent on quarter in the second quarter of 2017, Statistics New Zealand said on Monday.

That beat forecasts for an increase of 0.7 percent following the upwardly revised 1.6 percent gain in the three months prior (originally 1.5 percent).

The food and beverage industry had the largest increase in the series, up 4.2 percent.

The record increase reflects the influx of sporting fans and visitors for the World Masters Games and the Lions rugby tour held in New Zealand during the June quarter.

"With more than 28,000 people attending the World Masters Games in late April, and the surge of 23,000 visitors from the UK and Ireland, many arriving for the Lions rugby series starting in June, there was an expected lift for food and drink providers," business indicators senior manager Daria Kwon said.

Electrical and electronic goods rose 5.2 percent, while motor-vehicle and parts retailing rose 1.7 percent. This followed strong increases of 4.9 percent and 4.1 percent in the March 2017 and December 2016 quarters, respectively.

Accommodation volumes rose 6.1 percent. This was the largest increase for this industry in three years.

The total value of retail sales climbed 1.6 percent to NZ$351 million.

This followed the record dollar value increase of 2.5 percent (NZ$523 million) in the first quarter.

The food and beverage services industry rose 4.6 percent (NZ$117 million). This was the largest increase in the series, and follows the strong 4.5 percent (NZ$109 million) increase in the March 2017 quarter.

Motor-vehicle and parts retailing rose 2.4 percent (NZ$77 million). This followed a record increase of 5.0 percent (NZ$152 million) in the March 2017 quarter.

Also on Monday, Business NZ said that the services sector in New Zealand continued to expand in July, albeit at a slower pace, with a Performance of Services Index score of 56.0.

That's down from the downwardly revised 58.3 in June (originally 58.6), although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

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