New Zealand Retail Sales Flat In December

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Retail sales in New Zealand were flat in December compared to November following the 0.8% increase in the previous month, Statistics New Zealand said on Friday. Economists were looking for a 0.6% increase.

The flatness was the result of an unprecedented fall of 1.8% in the core retailing industries being balanced by a 5.6% rise in the vehicle-related industries, the statistical agency said.

Eight of the 20 core retailing industries registered higher sales in December, with accommodation leading the way with a 2.2% increase. On the other hand, sales in supermarkets & grocery stores slumped 2.1%.

On a yearly basis, retail sales value for December stood at NZ$6.7 billion, 2.3% higher than in December 2008.

Retail sales in New Zealand were flat in December compared to November following the 0.8% increase in the previous month, Statistics New Zealand said on Friday. Economists were looking for a 0.6% increase. (Market News Provided by RTTNews)