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Retail sales fall after September rise

Statistics New Zealand

Tuesday 14 December 2010, 12:30PM

By Statistics New Zealand

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Retail Trade Survey: October 2010
Retail Trade Survey: October 2010 Credit: Southern Public Relations

The value of seasonally adjusted total retail sales fell 2.5 percent ($137 million) in the October 2010 month, Statistics New Zealand said today. This follows a 1.7 percent ($94 million) rise in September 2010.

“Retail sales for October took a dip after increased spending in September timed to beat the GST rise,” business statistics manager Louise Holmes-Oliver said.

Core retail sales (which exclude the motor vehicle-related industries) were down 1.6 percent ($71 million) reversing the 1.7 percent ($72 million) increase in September 2010.    

“It was noticeable that the industries that sell big-ticket items recorded increased sales in September, but had the largest decreases in October,” Louise Holmes-Oliver said. Ten of the 15 industries had decreases, with the largest being:

  •     motor vehicles and parts, down 12.6 percent ($85 million)
  •     furniture, floor coverings, houseware, and textiles, down 27.8 percent ($47 million) 
  •     electrical and electronic goods, down 15.2 percent ($34 million).

The largest increase was in supermarket and grocery stores, up 4.2 percent ($58 million). All the food and drink related industries recorded increases.

The sales trend for total retail has been rising since February 2009, up 6.6 percent since then. The sales trend for core retail has been rising since February 2010, up 2.3 percent since then.

The Retail Trade Survey excludes GST. This month's release is the first time the Australian and New Zealand Standard Industrial Classification (ANZSIC06) has been implemented for this survey.

 

Highlights

For October 2010 compared with September 2010 (on a seasonally adjusted basis): 

  • Total retail sales fell 2.5 percent ($137 million) following a 1.7 percent ($94 million) increase in September 2010.
  • Core retail sales fell 1.6 percent ($71 million) reversing the 1.7 percent ($72 million) increase in September 2010. 
  • Ten of the 15 industries fell, four by more than $20 million. 
  • The largest decrease was motor vehicles and parts, down 12.6 percent ($85 million). 
  • Supermarket and grocery stores, up 4.2 percent ($58 million) recorded the largest increase.

The Retail Trade Survey excludes GST.