New Zealand Retail Sales excluding inflation for Q3: +1.5% q/q

  • expected +0.8%
  • prior was +1.2%

–

Much better than expected … NZD/USD 0.7946 trading as i type

–

From Statistics New Zealand:

  • After adjusting for seasonal effects, the volume of total retail trade sales rose 1.5 percent in the September 2014 quarter, after a 1.1 percent rise in the June quarter. The last time the sales volume rose more than 1.5 percent was in the June 2012 quarter (1.9 percent).
  • “Two food-related industries led this quarter’s increase, having the largest rises in both sales volume and value,” business indicators manager Neil Kelly said.
  • Looking at the longer-term picture, the trends for both total retail sales volumes, and values, have generally been rising since mid-2009
  • In actual terms, the value of total retail sales was $18.3 billion in the September 2014 quarter, up 4.1 percent compared with the September 2013 quarter