New Zealand Retail Sales Climb 1.2% In Q2

The total volume of retail sales in New Zealand jumped a seasonally adjusted 1.2 percent on quarter in the second quarter of 2014, Statistics New Zealand said on Thursday. The headline figure topped forecasts for an increase of 1.0 percent following the upwardly revised 0.8 percent gain in the first quarter (originally 0.7 percent). Eleven of the 15 industries had higher sales volumes in June. The largest industry movements were: motor-vehicle and parts retailing, up 3.6 percent; food and beverage services, up 2.7 percent; and fuel retailing, down 3.3 percent. "The motor-vehicle and parts retailing industry has driven this quarter's increase in both sales volumes and values, recording their largest increases in two years," business indicators manager Neil Kelly said. The volume of core retailing industries - which excludes vehicle-related industries - also was up 1.2 percent. The total value of retail sales gained NZ$180 million or 1.0 percent, with sales rising in ten of the 15 retai
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