NZ retail sales fall in Sept. Q3 ’24

New Zealand’s retail sales declined by 0.1 per cent in the third quarter of 2024 compared to the previous quarter, adjusted for price inflation and seasonal effects, a report from Statistics New Zealand (Stats NZ) revealed on Monday.

Ten out of the 15 retail industries reported a decrease in sales volume during the quarter. Supermarket and grocery stores, as well as food and beverage services, were the largest contributors to the decline, falling by 1.3 per cent and 2.1 per cent, respectively.

“Retail activity was flat in the September 2024 quarter, with a decrease in spending in most retail industries being offset by an increase in motor vehicles and electrical and electronic goods,” economic indicators spokesperson Michael Heslop said.

Attribution: The Statistics New Zealand report

Subediting: M. S. Salama