NZ retail sales gain on pick-up in ‘patchy’ hospitality sector

Wed, 14 Aug 2013

By Paul McBeth Aug. 14 (BusinessDesk) - New Zealand retail sales grew faster than economists were picking in the second three months of the year, led by a record gain in what’s seen as a “patchy” hospitality sector. Spending on food and beverage services industries, which consist of cafes, restaurants and bars, climbed a record 4.5 percent to $1.8 billion, seasonally adjusted, in the three months ended June 30, with the value of spending on hospitality up a seasonally adjusted 0.9 percent to $18.14 billion, according to Statistics New Zealan...

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