NZ retail sales rise 1.5% in 3rd-qtr, led by supermarkets, groceries

Sun, 16 Nov 2014

Nov. 17 (BusinessDesk) - New Zealand retail sales rose faster than expected in the third quarter, led by supermarkets and grocery stores, suggesting consumers haven't been deterred by rising borrowing costs. The kiwi dollar rose after the figures were released. Retail sales volumes rose a seasonally adjusted 1.5 percent in the third quarter from three months earlier, according to Statistics New Zealand. Unadjusted sales rose 4.1 percent from a year earlier. A quarterly gain of 0.8 percent for an annual increase of 4 percent had been expected...

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