NZ retail sales growth slows in first-quarter as warm weather keeps lid on clothing purchases

Mon, 13 May 2013

By Paul McBeth May 14 (BusinessDesk) - New Zealand retail sales slowed their pace of growth in the first three months of the year as the long, hot summer sapped consumers’ appetite to buy more clothing. The total volume of retail sales rose 0.5 percent, seasonally adjusted, to $17.62 billion in the three months ended March 31, from a revised quarterly pace of 1.9 percent in the December quarter, Statistics New Zealand said. That was below the 0.8 percent pace estimated in a Reuters survey of economists. Actual retail sales volumes grew 3.5 p...

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