Retail sales buoyed by motor vehicles and fuel

Retail sales buoyed by motor vehicles and fuel

The value of seasonally adjusted total retail sales rose 0.5 percent ($86 million) in the March 2010 quarter, Statistics New Zealand said today. This increase was buoyed by large increases in motor vehicle retailing and automotive fuel retailing. Motor vehicle retailing also led the slight increase in the volume of sales, which were up just 0.2 percent in the March 2010 quarter.

To put these latest movements in context, the trend for total retail sales value has risen 2.9 percent since March 2009, and has now reached its highest level since the series began in September 1995. The total sales volume trend has risen 1.9 percent in the three quarters since June 2009, but is still 5.1 percent below its historical high, which was recorded in June 2007.

Core retailing, which excludes the four vehicle-related industries, had a 0.7 percent fall in seasonally adjusted sales values in the March 2010 quarter. This is the largest recorded decrease for core retailing and was led by volume-driven decreases across a number of industries, most notably in supermarket and grocery stores and cafes and restaurants.

Five of the seven food and drink related industries recorded volumes-led falls in sales value in the March 2010 quarter. In addition to supermarket and grocery stores, and cafes and restaurants, there were notable falls in liquor retailing, and bars and clubs. "These falls in volume indicate that either fewer individual items are being sold by these industries, or that more expensive items are being substituted with different, cheaper ones," business manager Kathy Connolly said. The only food and drink related industry to record a significant increase in sales volume was takeaway retailing.

In the March 2010 month, seasonally adjusted total retail sales values increased 0.5 percent ($30 million) compared with February 2010. This month’s increase was predominantly driven by core retailing, which rose 1.1 percent ($44 million).

For more information on quarterly and monthly sales movements, please see the Hot Off the Press information release.

ENDS

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