New Zealand Retail Sales -0.5% On Month In July

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Retail sales in New Zealand fell a seasonally adjusted 0.5 percent on month in July, Statistics New Zealand said on Monday, coming in at 25 million New Zealand dollars.

That was sharply below analyst expectations that had forecast a 0.4 percent monthly increase after the 0.1 percent gain in June.

Core retail sales, which excludes automobile sales, also fell 0.5 percent on month to 20 New Zealand dollars - missing expectations for a 0.5 percent increase after the 0.4 percent fall in the previous month.

(Market News Provided by RTTNews)