New Zealand Retail Sales for Q4: 1.2% q/q (vs. expected +1 .7% & prior was +0.3%)

• +3.9% y/y

From Statistics NZ:

• Nine of the 15 retail industries had higher sales volumes in this latest quarter
• The volume of sales in the core retailing industries (which excludes the vehicle-related industries) rose 0.7 percent
• When the effect of price changes is included, the total value of retail sales rose 1.2 percent ($221 million), with sales rising in 11 of the 15 retail industries. For the core retail industries, sales rose 1.0 percent ($143 million).
• Looking at the longer-term picture, the trends for both total retail sales volumes and values have generally been rising since mid-2009.

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NZD/USD down a fraction on the release

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Added: Despite Weak Data, New Zealand Bank on Course to Raise Rates