Retail sales in New Zealand fell 2.3 percent in the second quarter of 2022, picking up from the upwardly revised 0.9 percent decrease in the previous period and marking the sharpest decline since the second quarter of 2020. Sales significantly fell for furniture, floor coverings, houseware, and textiles (-8 percent vs unchanged in Q1), electrical and electronic goods (-6.1 percent vs 2 percent), hardware, building, and garden supplies (-5.3 percent vs -6.4 percent0, and motor vehicles and parts (-5.8 percent vs -5.3 percent). On the other hand, higher sales for accommodation services (10.6 percent vs 3.8 percent), and food and beverage services (3.3 percent vs 0.2 percent) capped further losses. Year-on-year, retail sales fell by 3.7 percent, compared to the 2.3 percent rise in the quarter ending in March. source: Statistics New Zealand
Retail Sales YoY in New Zealand averaged 3.17 percent from 1996 until 2022, reaching an all time high of 33.30 percent in the second quarter of 2021 and a record low of -14.20 percent in the second quarter of 2020. This page provides - New Zealand Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Retail Sales YoY in New Zealand is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Retail Sales YoY is projected to trend around 2.50 percent in 2023 and 4.00 percent in 2024, according to our econometric models.