New Zealand Retail Sales Drop For Third Month Straight

(CEP News) - Retail sales in New Zealand fell more than expected in December, falling by 1.0%.

Economists surveyed by Bloomberg had expected a 0.7% fall in retail sales following a flat reading in November.

Excluding autos, retail sales fell 0.6% in the month - worse than the -0.2% reading expected. In November, retail sales ex-autos rose 0.3%.

Retail sales for the fourth quarter minus inflation fell by 0.6%, against expectations for a 0.4% fall and a 0.9% drop in the third quarter.

By Megan Ainscow, mainscow@economicnews.ca

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Posted in Categories: Economy, New Zealand, Releases.

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