The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6 percent in the second quarter of 2020 following a revised 1.2 percent drop in the previous period, as coronavirus restrictions dented demand. It was the largest drop in total volume sales since the series began in 1995, as sales dropped for supermarket & grocery (-0.2 percent vs 8.7 percent in Q1); electrical and electronic goods (-1.5 percent vs 0.9 percent) and motor vehicles and parts (-15 percent vs -8.8 percent). Year-on-year, retail sales were down 14.2 percent.
Retail Sales MoM in New Zealand averaged 0.57 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 -14.60 percent in the second quarter of 2020. 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 October of 2020. source: Statistics New Zealand
Retail Sales MoM in New Zealand is expected to be 10.00 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.