It's still a dim outlook for the retail sector with sales down for the eight quarter in a row
It's still a dim outlook for the retail sector with sales down for the eight quarter in a row
24 August 2024
Latest figures from Stats NZ show the total volume of retail sales fell 1.2 percent in the three months to June.
Electronics and clothing stores took the biggest hit down 6-percent and 4.1 percent respectively.
ASB Senior Economist Mark Smith says sales are actually higher than he was expecting.
He says the major takeaway is though that retail sector is still in retrenchment mode and is likely to stay there for a while yet.
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