NZ 2Q retail sales climb more than expected on record increase in spending on cars, auto-parts

Mon, 13 Aug 2012

By Paul McBeth Aug. 14 (BusinessDesk) - New Zealand retail sales rose more than expected in the June quarter as people spent a record amount on cars and auto-parts since the series began in 1995. The total volume of spending rose a seasonally adjusted 1.3 percent to $17.25 billion in the three months ended June 30, according to Statistics New Zealand, led by a 7.3 percent boost in expenditure on motor vehicles and parts. That outpaced the 0.7 percent growth forecast in a Reuters survey of economists. The volume of spending on fuel fell 2.6 p...

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