Garden Supplies | Kiwis Finally Start Spending, Quarterly Retail Figures Show
~li~
Related
Food prices still heading upwards
Spending grew at a faster pace than forecast in the June quarteras households feel more confident to hit the stores.
The total volume of retail spending grew a seasonally adjusted0.9% in the three months ended June 30, according to Statistics NewZealand data.
That figure bet the 0.6% expansion picked in a Reuters survey ofeconomists and taking out motor vehicle related spending, the corefigure grew 1%.
The value of retail spending, which accounts for both salesvolume growth and price hikes, climbed 1.7% in the quarter to$16.94 billion, and was 4.1% ahead of the same period a yearago.
The value of core retailing grew 1.4% to $13.01 billion and isup 3.1% from June 2010.
Earlier this month, the ANZ Roy Morgan consumer confidencesurvey showed people are the most optimistic they’ve been for sevenmonths, and today’s figures pick up on a growing trend of datashowing New Zealand’s economic recovery is gathering pace ahead ofexpectations.
Of the 15 industries surveyed, 12 reported increased sales, ledby a 4.9% increase in the value of spending on motor vehicles andcar parts rose to $2.06 billion on a 4.2% increase in
Click here to view rest of article from original site
|
|
|
