INDEPENDENT NEWS

Retail Sales Growth Stable

Published: Fri 3 Sep 1999 03:59 PM
Statistics New Zealand's retail trade figures for July 1999 show growth has stabilised in recent months. After growing strongly in the second half of 1998 retail sales are now increasing at a slower but steady rate. Between July 1998 and January 1999 sales increased by 2.5 per cent but since the beginning of this year they have only increased 1.6 per cent.
Despite the positive trend, seasonally adjusted sales show a marginal decrease in July. However, this result should be treated with some caution. Allowing for a trading pattern (caused by the variation in the number of week and weekend days in a month) analysis suggests activity between June and July would have recorded a slight increase. School holidays fell entirely in July in 1998 but began on June 26 this year. This appears to have had little influence on trading in the traditionally affected areas, such as accommodation, hotels and liquor; and cafes, restaurants and takeaways storetypes. Seasonally adjusted sales increased in both these storetypes, with the increase in the accommodation, hotels and liquor storetype being the largest this month. Growth in tourism numbers and heavy snowfalls during July may have contributed toward the improved result.
The increase in seasonally adjusted sales in the motor vehicle services storetype, reflects petrol price rises which occurred during July. The food retailing storetype also increased this month in line with the 0.5 per cent rise in the Food Price Index.
ENDS

Next in Business, Science, and Tech

Australian bushfires continue to blaze – Expert Reaction
By: Science Media Centre
Higher retail consumption lifts GDP
By: Statistics New Zealand
Fairer pay with minimum wage rise for quarter of a million
By: New Zealand Government
Tourism and Environment: Pristine, popular... imperilled?
By: Parliamentary Commissioner For The Environment
Gordon Campbell on the Aussie bush fires and Suleimani
By: Gordon Campbell
Bushfire Crisis: Climate Politics Turning Point Aus Needs?
By: The Conversation
Scott Morrison: the bushfires demand a climate policy reboot
By: The Conversation
Incendiary Extinctions: Australian Fires
By: Binoy Kampmark
Aussie bushfire smoke reaches NZ – update 2nd Jan 2020
By: NIWA
2019 NZ's fourth warmest year on record - Expert Reaction
By: Science Media Centre
2019 second hottest year on record, UN confirms
By: UN News
Fossil Fuel Companies Called On To Foot Australia Fires Bill
By: Eoin Higgins
GDP growth reflects a strong economy
By: New Zealand Government
NZ in ‘GDP per person recession’ under Labour
By: New Zealand National Party
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media