Retail sales flat in December quarter

Shoppers spent less on hardware and more on food and accommodation in the final quarter of 2022. (Image: BusinessDesk)

Mon, 27 Feb 2023

Retail sales declined by 0.6% in the December quarter on a seasonally adjusted and price-adjusted basis.The volume of retail goods and services sold has declined in four of the past five quarters after increasing steadily during most of the pandemic. The biggest declines were in building, gardening and hardware (down 15%), and motor vehicles and parts (down 10%).Hospitality bucked the trend, with food and beverage up 14% and accommodation up 28%.Statistics NZ said the opening of the borders was likely to have helped boost hospitality spend...

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