NZ 3Q retail sales rise less than expected as cars, auto parts offset soft consumer spending

Wed, 13 Nov 2013

By Paul McBeth Nov. 14 (BusinessDesk) - New Zealand retail sales grew less than economists were picking in the September quarter as growth in sales of cars and auto parts was offset by weak consumer spending in the core sectors. The total volume of retail sales rose 0.3 percent in the three months ended Sept. 30, from a 1.5 percent pace in the June period, which was revised down from 1.7 percent, according to Statistics New Zealand. That missed the 0.9 percent volume growth forecast in a Reuters survey of economists. The seasonally adjusted...

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