The volume of total retail sales in New Zealand declined a seasonally adjusted 0.7 percent in the first quarter of 2020 after a revised nill growth in the previous period, as COVID-19 restrictions dented demand. It was the largest drop in total volume sales in eight years, with 10 of the 16 regions showing declines. Sales were mainly dragged by a 7.5 percent drop in motor vehicles & partes compared to an unchanged print in the previous quarter. Also, sales of recreational goods fell 7.5 percent after growing 1.4 percent. In contrast, social distancing measures led to an 8.5 percent surge in sales of supermarkets & grocery stores (vs -1.2 percent). Year-on-year, retail trade growth slowed to 2.3 percent compared to 3.3 percent in the previous period.
Retail Sales MoM in New Zealand averaged 0.73 percent from 1995 until 2020, reaching an all time high of 2.90 percent in the third quarter of 2004 and a record low of -2.80 percent in the first quarter of 2009. This page provides - New Zealand Retail Sales MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Retail Sales QoQ - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics New Zealand
Retail Sales MoM in New Zealand is expected to be -1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in New Zealand to stand at 1.30 in 12 months time. In the long-term, the New Zealand Retail Sales QoQ is projected to trend around 1.50 percent in 2021 and 1.70 percent in 2022, according to our econometric models.