NZ retail sales rise 1.7% in fourth quarter, beating estimates, on autos, food, drinks

Sun, 15 Feb 2015

Feb. 16 (BusinessDesk) - New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. Sales rose 1.7 percent, seasonally adjusted, in the fourth quarter from three months earlier, according to Statistics New Zealand. Actual sales climbed 5.9 percent from the year-earlier quarter by volume and rose 4.7 percent to $20.9 billion in value, the first time sales have exceeded $20 bi...

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