UPDATE: NZ retail sales rise 1.2% in second quarter, led by demand for vehicles

Thu, 14 Aug 2014

(Adds economist comment in fourth paragraph) By Tina Morrison Aug. 14 (BusinessDesk) - New Zealand retail sales rose more than expected in the second quarter, as vehicle sales volumes and values increased at the fastest pace in two years. The volume of retail sales rose a seasonally adjusted 1.2 percent in the three months through June, from an upwardly revised 0.8 percent in the first quarter, according to Statistics New Zealand. That’s more than the 1 percent expected in a Reuters poll of economists. The New Zealand dollar climbed as...

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