Spending halves during lockdown

Mon, 11 May 2020

Total retail sales fell $2.6 billion, or 47 percent, in April after adjusting for seasonal effects, Stats NZ said. That was the largest fall in both dollar terms and percentage change since the series began in 2002. “The $2.6 billion drop is the equivalent of each person in the country spending about $520 less in April than they did in March,” retail statistics manager Kathy Hicks said.All industries showed unprecedented falls in April. Furniture, hardware, and appliances led the value declines among industries, down just over...

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