New Zealand Sees Increase in Retail Sales
Stats NZ reported that seasonally adjusted retail volumes expanded by 239 million NZ dollars (approximately 143 million U.S. dollars) in the final three months of the year, with momentum concentrated in pharmaceutical and other store-based retailing, electrical and electronic goods, and hardware, building, and garden supplies.
Breadth of growth was notable — 12 of the 15 tracked retail industries posted gains during the quarter. Motor vehicle and grocery sales, however, bucked the trend, recording declines, the statistics agency noted.
For Retail NZ, the data marked a welcome turning point. Chief Executive Carolyn Young said the figures were a positive sign after years of struggle, with total core retail sales rising 4.5 percent from a year earlier to 27 billion NZ dollars.
Young attributed gains across specific segments to seasonal forces and promotional activity, noting that growth in pharmaceuticals, souvenir and stationery stores reflected seasonal tourism and holiday shopping, while a boost in sales of electronic goods benefited from November's Black Friday promotions.
Despite the upbeat headline numbers, Young flagged underlying pressures, cautioning that stock values for core retail industries fell 0.5 percent year on year, and apparel inventories dropped 4.9 percent for the clothing, footwear and accessories segment of the market — a signal that some corners of the sector remain under strain even as overall confidence begins to recover.
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